SYDNEY, June 15 (Xinhua) -- Sydney's iconic Opera House will receive its biggest upgrade since it was opened 43 years ago, the New South Wales (NSW) state government announced on Wednesday.

A total of 12 million Australian dollars (8.86 million U.S. dollars) in funding has been allocated toward detailed planning and design for renewal of the iconic site.

NSW deputy premier Troy Grant said the project would prepare the Opera House for future generations and the increasing demands that are made upon Australia's premier tourist attraction.

"The NSW government is investing 600 million Australian dollars (443.19 million U.S. dollars) in cultural infrastructure across the state, and there's no better place to invest than in the Sydney Opera House," Grant said.

Sydney Opera House chief executive Louise Herron said the Opera House had transformed Australian life and identity in the decades since it first opened in 1973.

"The generous support of the NSW government is enabling us to transform the Opera House to ensure that it remains a source of inspiration for current and future generations of audiences, visitors and artists," Heron said.

"Our renewal plans will open up more Opera House spaces to the public, inviting even more people to gather, to learn and to engage with the arts and each other."

The NSW state government is expecting the whole renewal project to cost 202 million Australian dollars.