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Plans to transform one of the region's most historic industrial areas has taken a step forward. The former Swan Hunter shipyard on Tyneside could be in line for 50 million pounds of investment.
The local council is encouraging developers to build warehouses and offices on the site, to help create thousands of jobs.
WD Close & Sons already use the Swan Hunter site to finish building enormous subsea matts.The project manager here says he thinks the former shipyard has a strong future.
North Tyneside Council is pitching to developers to invest part of £50m to transform the former Swan Hunter shipyard.It is inviting companies to help build warehouses, offices and a "learning village" that could then support thousands of jobs in the off-shore marine sector, among others.
The council told North East Tonight that around 40 companies have already signed up to an open day to visit the site, ahead of the procurement process.
The Swan Hunter shipyard is still being used by offshore marine companies, but hope is that it will one day support thousands of jobs.
A contract to transform the Swan Hunter shipyard in Wallsend is being offered by North Tyneside Council.
The council wants a partner to work on maximising the Low Carbon Enterprise Zone at the site.
Interested parties will attend an open day next month, where they will be able to share their expertise and consider becoming part of a consortium.
Latest ITV News reports
North Tyneside Council is inviting companies to invest up to £50m to bring offshore and marine companies to Swan Hunter.