Plans were revealed last year for the centre, which has been given the temporary name Exhibition Centre Liverpool until a naming sponsor is found.
It will create a combined 15,225sqm of interlinked event space at ACC Liverpool, which currently has 7,125sqm of exhibition space in its multi-purpose hall and arena.
The new hall will be connected by a sky bridge to the existing Echo Arena and BT Convention Centre, which will make ACC Liverpool the only purpose built interconnected arena, convention centre and exhibition facility in the UK, according to the venue.
Work to build the centre will start in autumn 2013 and should be finished by late 2014, ready for first event bookings the following year.
Tim Banfield, commercial director of ACC Liverpool, said: "We wanted to give the exhibition centre a stand alone identity as the city has a huge amount to offer as a north west destination for consumer and trade exhibitions."
He added: "There are 7.8 million people within a 90 minute drive time of Exhibition Centre Liverpool’s location, with an estimated 300 million consumers within three hours of the city. There is a real opportunity for customers to spend money at consumer shows in our region."
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