Builder chosen for Hobart's Macquarie Point stadium

Construction firm BESIX Watpac has won the tender to construct Hobart's Macquarie Point Stadium, the ABC understands.

An official announcement is expected today.

The Australian-based firm was one of two shortlisted bidders vying for the stadium contract and has edged out a rival consortium headed by Italian firm WeBuild to progress to the second and final stage of the tender process.

BESIX Watpac had been considered the strong frontrunner to win the bid over WeBuild, which had come under scrutiny following revelations it was facing charges in New South Wales relating to alleged workplace safety breaches.

A fixed-price contract to build the stadium is expected to be signed before Christmas.

But a final cost is still yet to be determined and haggling over the price is set to continue as part of detailed, exclusive contract negotiations over the next two months.

The project has a $1.13 billion budget, but that number has not been publicly updated since late last year, and before an escalation of conflict in the Middle East which has contributed to a spike in fuel and diesel prices.

In May, a Greens motion calling for an updated cost estimate to be revealed by August passed Tasmania's lower house.

The Macquarie Point Development Corporation and the Tasmanian government have not released any updated costings though, citing risks to the integrity of its live procurement process.

The government is also bound by a state funding cap of $875 million, which was part of an agreement struck between it and upper house MP Bec Thomas, who voted in favour of the stadium progressing in December last year.

As part of that agreement, any further funds required to build the stadium would either be clawed back via "value management", a reduction in scope, or be sought from either the federal government, AFL or Cricket Australia.

BESIX Watpac recently completed Christchurch's 30,000-seat, roofed One New Zealand Stadium, which was finished two months early in June, at a cost of just over $650 million.

The firm, as part of a joint venture with John Holland, has also won the contract to construct Brisbane's new 63,000-seat Olympic stadium.

That build is slated to cost about $3.6 billion.

Site works at Macquarie Point began in July, but the stadium is not expected to be complete until December 2030.

Its construction is a requirement of the Tasmania Devils' entry into the AFL and AFLW from 2028.