The new Machynlleth school is set to open in September 2029 at the latest, authorities say.
The news comes as the tender is set to go out this January for a new contractor to build the replacement school for Ysgol Bro Hyddgen.
Under the plans, the current secondary school will be demolished and replaced with a school for both primary and secondary students, with space for 540 pupils.
After multiple setbacks, including the collapse of construction firm Dawnus, the plans which began in 2017 may finally be making headway.
County Councillor for Glantwymyn Elwyn Vaughan said: “After confirmation of the capital funding support from Welsh Government, I have had confirmation that Powys will be going out to tender to build the new school in January.
“It has been a long wait, but this is a positive step forward...
“It seems building costs have gone up a great deal in the last couple of years, so when they went to seek professional advice, estimates were higher than expected, hence the need to review matters.
“Now that has been done, it seems they are at last ready to go out to full tender.”
However County Councillor for Machynlleth Alwyn Evans announced in September’s town council meeting that the costs could have risen from £48m to £63m.
The plans got the green light a year ago for a new school building along with a 3G sports pitch, athletics facilities, outdoor performance space, play area, new access and vehicle and cycle parking.
A spokesperson for Powys County Council said the revised cost would be confirmed after the tendering process, adding: “As part of the project, we are also preparing a revised Outline Business Case for Cabinet and Welsh Government approval.”
Welsh Government had previously agreed to foot 65 per cent of the bill.
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