Work on the new venue will begin in the autumn, led by construction company, ISG.
It will increase the existing 7,125 sqm of exhibition space at ACC Liverpool, which includes the BT Convention Centre and Echo Arena, to 15,225 sqm and will contain three 2,700sqm exhibition halls and a 200-room hotel.
The new facilities will be connected to the BT Convention Centre and Echo Arena via an interlinking bridge and are due to open in spring 2015.
Bob Prattey, chief executive of ACC Liverpool, said: "Receiving planning permission for Exhibition Centre Liverpool and the headquarters hotel is another significant milestone in Liverpool’s development.
"ACC Liverpool has already generated more than £620m in economic impact since opening in 2008. This project is further proof that the city means business when it comes to competing with European destinations in hosting major conferences and exhibitions.
"Today’s approval is the culmination of more than two years of extensive planning and we are eager to move onto the next phase of the project and the continued progression of the city."
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