Premier Denis Napthine announced the funding on Thursday.

He said the money would be used to open the pool, build new changerooms and a kiosk and enhance the greater sporting precinct.

Pool committee president Ambrose Cashin said the committee had been working hard to re-open the pool since Ararat council announced its closure in 2011.

The pool required major works to bring it up to occupational health and safety standards.

Mr Cashin said the committee welcomed the  announcement with open arms.

‘‘We’re thrilled the Liberal Party has taken the time to read our proposal and that it has listened to the needs of our community,’’ he said.

Mr Cashin said the money promised by the Coalition, combined with council funding and donations, would meet the cost of refurbishing of the pool.

He said the committee had tried to contact Labor Member for Ripon Daniel McGlone to see if his party would match the promise, however Mr McGlone had not responded.

‘‘If Daniel McGlone is interested in the rural sector and the needs of Ripon and Ararat, he should at least respond,’’ he said.

Mr Cashin said the committee hoped the council would allow the project to go ahead so work could be completed ahead of the 2015-16 season.

‘‘We have reduced the cost from more than $2million to $1million and if rates go up, it won’t be because of the pool.

‘‘We have a very cost-effective plan in place.’’

Ararat Mayor Paul Hooper said he was pleased with the announcement, but did not want to raise his expectations yet.

‘‘I’m cautious about election promises, especially because Ripon is a marginal seat,’’ he said.

Cr Hooper said because its next meeting fell two weeks before the state election, the council would not make a final decision about its stance on the pool until a later date.

Mr Cashin said he would like to thank the community, in particular the tradespeople and contractors who offered their time to complete the project.