The revamped centre is expected to open by 2008
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Swansea's revamped leisure centre will boast Europe's first indoor surfing venue, according to the city council.
It will form part of a water park which will include a network of pools, slides and waves.
The plans will form the centrepiece of the £25m project set to be completed in 2008, the authority said on Friday.
The centre was shut in November 2003 because of safety concerns and a report said £14m needed to be spent to keep the building going.
Opened by the Queen in 1977, the leisure centre was regularly on a list of the top 10 visitor attractions in Wales pulling in around 750,000 visitors every year.
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Leisure Centre Plans
Indoor water park with network of pools, slides and indoor surfing
Multi-purpose sports hall and Wales' largest fitness area
Cafe bar, internet cafe and function rooms
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Swansea council leader Chris Holley said: "We are transforming the pool area into a 21st Century water park.
"These facilities will be the envy of every leisure centre in Britain.
"Standing alongside the National Waterfront Museum, Swansea will have a new cultural and leisure hub attracting more than one million visitors a year."
The indoor Surf Stream, as it is being called, will cater for surfers and body boarders of all abilities.
The centre will also have the largest fitness area in Wales, added Councillor Holley.
The first-floor bowls hall will be removed to create extra ceiling space and a new bowls centre is to be built at Landore, if it wins planning approval.
The old concrete panels on the outside of the building will be replaced with translucent glazing and timber panelling.