The construction of three new stands at Ravenhill in east Belfast is due to be completed by the summer of 2014.
The revamp will increase capacity at the historic venue from 11,400 to 18,000.
It provides a timely boost for a team on the up. Tickets for Ulster games are currently at a premium, with their unbeaten start to the season leading to frequent sell-outs.
The work on Ravenhill mirrors similar Stormont Executive-backed redevelopments at Belfast's Casement Park gaelic games venue and Windsor Park football stadium, the home of the Northern Ireland international team.
Culture, Arts and Leisure Minister Caral Ni Chuilin has officially released the £14.7million pledged for Ulster Rugby's plan.
The club is seeking a naming partner for the new-look stadium and new stands will go up at the Memorial and Aquinas ends by next June before the existing main stand is torn down and replaced.
Ulster Rugby chief executive Shane Logan said: "This investment will create a modern, state-of-the-art stadium with the highest standard of facilities for both supporters and players. The new Ravenhill will enhance the position of Ulster Rugby in the world game and will greatly benefit the development of rugby in the Province."
Gilbert has released a new line of rugby cleats. The Gilbert Virtuo 8S is part of the exciting new product. Check it out.
The entire All Blacks apparel line has been updated for 2013/14. Check out the New Zealand All Blacks polo.
The Nike Tiempo is a solid rugby cleat and one of few styles still made from full-grain natural leather.
The Gilbert Blitz 8S rugby cleat is a great cleat at a great price of $69.99. Get a new pair of cleats today.
A cool looking all black rugby cleat with the high performance adidas is known for. Get in the Gear!
Wear the crest of the British and Irish Lions on your t-shirt. A great look for the summer.
$29.99
The All Blacks Performance t-shirt is black with hints of blue from the training jersey. Very Cool.
The New Zealand All Blacks training jersey for 2013/14. Get in the Gear!
The USA Rugby Pro Alternate rugby jersey is perfect for any fan of the Eagles. Get yours to wear during the summer Test matches.
The NEW All Blacks 2013/14 jersey has arrived at World Rugby Shop. Dare to wear the colors of the All Blacks.
