Each of the four stands would be completely covered by an attractive, sweeping translucent roof that would minimise the effects of poor weather on each of the 50,000 spectators as they enjoy comfortable unobstructed views of the pitch from any vantage point in the stadium.
The attractive stadium would represent a significant aesthetic improvement on the existing structure and is designed to minimise the impact on local residents.
The IRFU & FAI believe they can allay fears of any disruption to public transport services along the adjoining railway line during the redevelopment phase.
They said the construction process provides for the continued smooth running of DART and rail services without risk to passengers or staff.
Commenting on the plans the Chief Executive of the IRFU, Philip Browne, said: “Both rugby and soccer deserve this vote of confidence.
"Through the exploits of our respective teams and loyal fans, between us we have positively raised the profile of Ireland from Korea to Australia, from Argentina to Italy and from the United States to South Africa in the name of sporting and human achievement.”
Fran Rooney of the FAI said: “We are seeking for a decision from Government to invest in two of the nation’s most popular and successful sports on the international stage.
"If it gets the go ahead the economic benefits to the state will more than justify the investment of public funds.
"More importantly, over the longer term we will improve the underlying health of this nation through taking soccer and rugby participants to new heights of achievement at every level of our respective sports.”