Technological University of the Shannon (TUS) and Cycling Ireland have signed a memorandum of understanding to develop a €15.4m velodrome in Limerick city.
It is hoped that the velodrome will be completed by 2027, and will be central to the proposed new multipurpose sports arena on TUS' Coonagh campus on the northside of the city.
The facility will feature a 200m cycling track, changing facilities, 476 permanent seated spectator viewing, storage and WC facilities.
The project will also feature facilities for various sports including gymnastics, badminton, volleyball and tennis as well as uses such as exams and events.
The Limerick arena would become the first indoor velodrome outside of Dublin, with plans to build the capital's first cycling track already given the green light by the Minister for Sport.
Cycling Ireland High Performance Head Coach Neill Delhaye said: "Sports infrastructure projects, like this Limerick velodrome, have a hugely positive and wide reaching community benefit.
"To be able to train, race, have fun and compete all year round in a safe, spectator friendly environment is a potential game changer for cycling at every level from participation, pathway development and all the way to high performance.
"It's very exciting to think we may soon have two velodrome facilities in Ireland."
TUS President Professor Vincent Cunnane added: "The shared values of the university and Cycling Ireland provide the foundations for a strong relationship to meet these goals, working together to provide much needed sport facilities for athletes, while also opening up opportunities and state-of-the-art facilities on the north side of Limerick city and the wider region."
TUS applied for planning permission in July from Limerick City and County Council for the indoor arena that will be constructed from a twin-skin pressurised system, similar to the design of the Raymond Poulidor Velodrome in France.
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