The facility for luge, bobsleigh and skeleton will be built with "new technology" which has been designed to ensure it is less costly than previous designs.

Germany's Josef Fendt, the President of the International Luge Federation (FIL), was informed of the latest developments by Dr Michael Bielowski, President of the Austrian Luge Federation.

He visited the FIL headquarters in Berchtesgaden in Germany and said a company had been set up to construct and operate the new ice track.

Bielowski will act as managing director, with work at the site due to begin at the end of this year.

It is hoped that the venue will be completed by Autumn 2017, with Bludenz awarded the FIL's 2020 Junior World Championships at the organisation's Congress in Lake Placid in June.

Fendt and Bielowski also discussed preparations for the 2017 FIL World Championships which will also be held in Austria, at the Olympic track in Innsbruck.

In Lake Placid, the American village in New York state which has twice hosted the Winter Olympics, Fendt admitted that the cost of ice tracks is a concern.

"Luge itself has the status of a core sport in the Olympic programme and I do not currently see any specific threat of losing this status," he said at the time.

"On the other hand, there is criticism relating to the increasing cost of ice tracks.

"We are already working closely with the International Olympic Committee to counteract this issue."