Sports Minister Yvette Berry has revealed further details about plans for the proposed Tuggeranong facility after the government signed a "heads of agreement" in November with two companies to build the facility.

It is expected to be opened in 2025.

Ms Berry said the new $50 million facility would include two ice rinks, Australian-first dedicated curling lanes and indoor rock climbing. She said it would also have a retail shop and a cafe or restaurant.

"This is a significant sporting infrastructure project for Tuggeranong and the ACT government will commit $16 million towards the development of the new ice sports facility," she said.

The facility will be developed by Cruachan Investments Pty Ltd and its development partner Pelligra Holdings Pty Ltd.

The announcement of the Tuggeranong facility comes after it was revealed last week high-rise developer Geocon had bought the lease for the Phillip Swimming and Ice Skating Centre.

The Canberra-based developer said it intended to continue to operate the ice skating rink and pool as is required by the lease conditions. However, the territory plan states there only needs to be one ice skating rink in Canberra.

There have been concerns about the ageing Phillip ice skating rink since the Labor first announced plans for a new ice skating rink in the 2016 election.

The ACT government sought expressions of interest in 2019 for a developer to build and manage a centre.

The Tuggeranong facility will be called Canberra Arena and it will be home to the territory's ice hockey team, CBR Brave.

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ACT Ice Sports Federation president Tony Prescott said the organisation welcomed further progress on the establishment of the new facility.

"The ACT Ice Sports Federation is committed to partnering with the ACT government along with Cruachan Investments and Pelligra Holdings to realise our dream of a state-of-the-art facility capable of meeting the future needs of all of our ice sports, and creating new opportunities and pathways for local kids," he said.

"We anticipate the new facility also will become a national centre of excellence for ice sports and a natural home for local, national and international level ice sports events."

Cruachan director Stephen Campbell said the facility would be of an international standard.

"A new facility of international standard will provide the perfect environment to encourage more people to participate in ice sports and provide exceptional amenities for those spectating," he said.

"We are looking forward to creating Australia's first ice sports school program to give every young person the opportunity to engage in figure skating, ice hockey, broomball, speed skating and curling."

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