It was replaced as the home of the Cardiff Devils when they moved into the Ice Arena Wales.
Assembly began in 2006 and after a number of delays opened on 6 December 2006 when the Devils hosted the Manchester Phoenix (who, coincidentally, were also waiting for a similar venue to be completed) in an Elite Ice Hockey League fixture.
The Devils won the game 7-4 while Manchester's Tony Hand became the first player to score a goal at the rink.
The upgrade will consist of new walls and an extension at the non-seated end of the rink which will include a bar and cafe over two floors.
The stairs to the seating area have also been moved to the back in order to improve sightlines.