Major Projects Canberra will this year appoint a contractor to work together on building the new Canberra theatre.
A two-stage tender process will begin in July for the project, which is planned to deliver the new 2000-seat theatre.
The government confirmed approvals for the project would be sought in 2025.
The upcoming ACT budget includes additional funding for the project, including the work to appoint an "industry partner" to an "early contractor involvement delivery model".
Arts and Creative Economy Minister Tara Cheyne said engaging with the construction industry was a critical milestone.
"Taking a collaborative approach to the build is appropriate for a project of this significance, integrating the design and construction, optimising delivery outcomes and timeframes, and providing value for money," Ms Cheyne said.
Ms Cheyne said the theatre would be a city-shaping project that would deliver for the arts, arts workers, audiences and the broader creative economy in the ACT.
Chief Minister Andrew Barr said the government was building "once-in-a-century infrastructure projects" as part of its long-term plans for the city's future.
"These projects will provide opportunities for communities to come together and connect through the arts and events. This contributes to our world-leading quality of life," Mr Barr said.
Last year's territory budget included $28.44 million for design and consultation work on the Canberra Theatre Centre and related upgrades to Civic Square.
Mr Barr last year said the new theatre would drive more tourists to the city, with a flow-on boost for retail and hospitality businesses and the capital's night-time economy.
"Canberra has been missing out on many shows and performers because our current venues are too small and ageing," Mr Barr said.
"This project can change that."
Architectus, Danish architects Henning Larsen and theatre designers Arup were appointed in May 2023 to lead the work to design the new 2000-seat theatre.
Each interstate visitor who comes to the capital to see a show at the Canberra Theatre Centre is worth an average $523 to the territory economy, the ACT government believes.
More than 32,000 out-of-town visitors came to Canberra to see productions at the theatre centre in 2022-23, with a total estimated expenditure of $16.8 million in the ACT.
The figures were cited by the Cultural Facilities Corporation, the government-owned company which runs the theatre, in its annual report.
The Canberra Theatre Centre recorded 270,968 visitors across 489 performances in the 2022-23 financial year, the Cultural Facilities Corporation annual report said.
While 82 per cent of visitors were from Canberra, Jerrabomberra or Queanbeyan, 16 per cent came from other parts of NSW and 2 per cent from elsewhere in Australia.
