Published Wednesday, 14 November 2012
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The video shows how the home of Ulster rugby will look once redevelopment work, due to start on 26 November, finishes in two years time.
New stands will be built to house an extra 6,000 fans, boosting the total number of seats to around 18,000, and the main stand will be replaced.
Sports Minister Carál Ní Chuilín said the club is now able to appoint a main contractor.
"This is a great day for Ulster Rugby which will secure their future in this part of Belfast and contribute to their continued success," said Ms Ní Chuilín.
"With the final capital funding now awarded, the real transformation of Ravenhill will begin through the construction contract."
Construction will take place in phases over the next two years, with new stands to be erected at the Memorial and Aquinas ends by June before the main stand is dismantled and replaced.
The development is aimed at making Ravenhill a family friendly and inclusive sports ground, and will also give it sufficient capacity to host a PRO12 final or Heineken Cup quarter-final.
It is expected the new grounds will be completed by September 2014.
Ms Ní Chuilín continued: "As the Ulster Rugby team continue to enjoy success in the PRO12 and Heineken Cup, I have no doubt that today's investment will contribute to a bright and long-term future here in Ravenhill.
"Ravenhill's roaring rugby fans will soon have the stadium they deserve."
The funding for Ravenhill is part of an investment package for the redevelopment of a number of sports stadiums, including Casement Park in west Belfast and Windsor Park, home of the Northern Ireland international team.