A rescue package to save Belfast's Harland & Wolff shipyard from closure appears to be edging towards approval by the British government.
The North’s regional development minister, Mr Peter Robinson, has told a Northern Assembly committee he has "agreed in principle" to the shipyard selling part of its land for non-shipbuilding redevelopment.
The yard would use part of the money raised from redevelopment of 78 acres of its leased land to finance restructuring.
But Enterprise, Trade and Development Minister Sir Reg Empey said, despite Mr Robinson's comments, they are "a long way from a deal" and he does not want to raise the hopes of shipyard workers only to dash them.
Mr Empey said: "I am not saying this is an entirely viable plan and it will work. All we have been asked to say is that, strategically, it is moving in the right direction."
He said: "If the company was going to fold today, we are still going to have to address the land issue. This debate could be taking place even if there was no shipyard".
Mr Empey says he would not wish "to see the whole area covered in apartments", and adds: "I don't think the general public would tolerate that".
It was announced yesterday that Harland & Wolff is in a consortium with French defence company Thales, which is bidding for a Royal Navy contract for two aircraft carriers.
PA