Ulster Gaelic Athletics Association (GAA) has launched a new design for the multi-million pound Casement Park Stadium, which will be developed by Olympic stadium designers Populous.

The redeveloped West Belfast stadium will cost in excess of £76.4m, which is being funded by the NI Executive through Department of Culture, Arts and Leisure (£61.4m) and GAA (£15m).

The project will include a new 38,000-seated stadium on the existing Casement site with the full demolition and disposal of the existing Casement Park Facilities.

The Casement Park Stadium Project Board, which manages the project on behalf of Ulster GAA, expects the stadium to be open in time to host the 2016 GAA Ulster Final.

Other features will include a new playing surface to established GAA standards, development of corporate and community facilities, all ancillary facilities including player facilities, warm up area, medical and safety facilities, crowd control centre, event management suite and press centre.

Ulster GAA is currently involved with a range of government departments and statutory bodies with the aim of submitting the planning application in late April 2013.

Stadium project board chair Tom Daly said: "Our overall aim for Casement is twofold, firstly we want to achieve the strategic requirement set by the GAA in 2002 which will see us develop a fit for purpose Provincial Stadium.

"Secondly we want the stadium to be a social and economic driver for Belfast and the entire Province."

The development, which aims to attract significant GAA events, is anticipated to be worth £15m per year for the local economy.

Plans for the stadium redevelopment will be on display across venues in Belfast, including Andersonstown Leisure Centre, Falls Leisure Centre and City Hall.