Designed to attract major events from across the world, the proposed auditorium and exhibition hall will have capacity for 4,000 delegates, making it the largest facility of its kind in Wales and the south west of England.
The 300,000 sq ft project at Celtic Manor Resort will add to existing conferencing buildings, creating more than 200 jobs during the three-year construction phase.
Newport-based Lewis & Lewis is acting as project and cost manager of the development.
Celtic Manor Resort vice-president of facilities and development Russell Phillips said: “We will now be able to start some clearance work at the end of this year with a view to breaking ground on the new international convention centre in January 2016.”