Scottish Event Campus Limited said a feasibility study is being conducted to establish viable options for upgrading and expanding the campus, which includes the SEC Centre, the SEC Armadillo and the SSE Hydro, principally to facilitate further growth in the conference and exhibition sectors.

SEC also said it was in discussions with Glasgow City Council and the Scottish and UK governments over funding for the project.

In the current financial year, a Planning Permission in Principle application has been proposed and supported by a robust business plan and an economic impact study.

SEC chief executive Peter Duthie said: “The new conference facility would allow us to stage two events simultaneously or large conferences on a scale that we currently can’t offer.

“We believe our expansion project will provide a significant economic impact, not just to Glasgow and Scotland but to the UK.”

Meanwhile, construction work is expected to start this summer on two new hotels at the campus after SEC sold sites to property developers.

The hotels are expected to be completed by next year, adding 400 rooms between them to the campus area.

Mr Duthie said: “Clearly accommodation is very important, particularly for the conference sector but also for exhibitions and live entertainment.”