The Translink proposal is to build a new 340-space facility at Portadown Train Station on Corcrain Road.
Transport Minister, Michelle McIlveen, said it would be an additional asset to the wider Portadown and Craigavon community.
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She said: "I would encourage everyone to take part in the consultation and, if possible, to go along to the public information day."
Translink Project Manager, Aidan Stott, added: "We are in the early planning stages of this project which will require appropriate funding and planning approval.
"We want the local community to help us shape the plans we submit for planning application in the coming months and are encouraging the public to tell us their views on the project."
A Public Information Session is to be held at Portadown Train Station on Wednesday 23 March between 1.30pm and 7pm.
The consultation is open until 17 June 2016.
(CD/JP)
