December 7 2006

Glasgow City Council is to approve £15 million of funding towards construction of the proposed Scottish National Music Arena, triggering another £26 million from Scottish Enterprise.

The combined funds will cover almost two-thirds of the £67 million estimated cost of construction for the site on the banks of the Clyde.

Local councillor and chairman of Glasgow City Marketing Bureau, Alex Mosson, said the venue represented value for money, and would further Glasgow as a "global brand."

Once completed, the arena will be the UK's third largest indoor venue, generating an estimated £54 million for the local economy per year.

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