The Western Australia Government has named a consortium led by Brookfield Financial and John Laing as the preferred bidder for the contract to design, construct, finance and maintain the new Perth stadium at Burswood.
The WESTADIUM consortium was one of three shortlisted private sector parties to submit bids that met the technical, operational and commercial requirements of the state's request for proposals.
Western Australia Premier Colin Barnett said: "The State's evaluation team spent the past four months rigorously evaluating each bid and ultimately determined that WESTADIUM represented the best overall value for money for the design and construction phase, plus the contract's 25-year maintenance period."
The contract is anticipated to be awarded in the middle of this year after which the successful design will be revealed.
The government will now enter exclusive negotiations to reach final agreement on all of the contract's terms and conditions.
The Cabinet has also approved the appointment of the Confidem consortium as the reserve respondent, in the event of unsuccessful discussions with WESTADIUM.
The new Perth stadium will have an initial capacity of 60,000 seats and may be expanded in future to accommodate 80,000 spectators.
Additional plans for the stadium include ground-level hospitality boxes near the boundary line, a terrace and field clubs.
The physical pre-construction site works have recently been completed and the site is now being left to settle under 740,000t of sand surcharge, in order to start construction at the end of this year.
The new stadium is expected to be completed in time for the 2018 AFL season.
Image: Western Australia Premier Colin Barnett. Photo: courtesy of The Hon. Colin Barnett MLA.