The half billion dollar Lake Manitoba and Lake St. Martin outlet channels project is moving ahead.

Ottawa and Manitoba will cost share the $540 million flood prevention measure.

It includes two 23-kilometre diversion channels, bridges and water control structures to divert water.

Premier Brian Pallister and federal Natural Resources Minister Jim Carr made the announcement at Sandpiper Beach in St. Laurent, an area hard hit by the 2011 flood.

“Today's announcement is a recognition of the reality of the hardships that have been imposed on the people of this basin,” said Pallister.

The project is subject to a year-long environmental oversight process which the Premier had hoped to avoid in order to speed up construction.

But Carr sees no issues arising from that review.

“There are no impediments foreseen for this, the funding is in place and we believe it will proceed quickly as it should,” said Carr.

If all goes well, construction is expected to begin next year, a completion date is not yet known.

In 2011 flood waters ravaged lake homes, cottages, farms and First Nations communities, causing mass evacuations and damages.