CONSTRUCTION on the final stage of the redevelopment that will increase Geelong's GMHBA Stadium capacity to 40,000 will begin at season's end.

The Victorian Government had previously announced funding of $142 million for the project in this year's state budget with a timeline confirmed on Thursday. The redevelopment is expected to be completed by mid-2023.

It will see the city-end Ford Stand and Ablett Terrace replaced by a two-tier stand that will house 14,000 people, taking the stadium's capacity from 36,000 to more than 40,000.

It follows previous stadium enhancements that has included new Brownlow, Players, Premiership and Reg Hickey stands.

The fifth and final upgrade will ensure a reduced capacity at the venue for 2022, however the Cats will hope to push a number of 2023 home games into the second half of that season.

"Continued investment has meant that Kardinia Park has not only kept abreast of global trends, but it is also setting the pace," Kardinia Park Stadium Trust chair Stephen Gough said.

"We can't wait for the final piece of the redevelopment jigsaw to fall into place so we can provide an even better experience for fans and other users of this highly adaptable stadium."

An artist's impression of the new entry plaza at the city end of GMHBA Stadium. Picture: Supplied

The latest stage will include facilities for professional and community sport, including new unisex changerooms.

It will also feature a new entry plaza adjacent to Moorabool Street at the northern end of the ground.

BESIX Watpac has been announced as the project builder with 120 construction jobs to be generated by the upgrade.