The redevelopment of Limerick's city-centre docklands as a commercial centre could generate up to 1,000 jobs and be worth €50 million annually to the local economy, the Shannon Foynes Port Company claims.
The company, which owns the site, is examining proposals from developers for the 40-acre site and will make a decision on who to sell the site to next month.
Among the proposals from developers are a cultural centre for the arts and a national convention centre, and the Port Company says about 750 jobs would be created during construction.
Shannon Foynes Port Company chief executive Mr Brian Byrne said that claims of 200 job losses as a result of the sale of the port were unfounded.
He said just seven part-time stevedoring staff and nine full-time support staff were employed at Limerick Port and that their jobs have been underwritten with a 10-year guarantee.
Mr Byrne said proposals for the site include a variety of mixed uses and commercial ventures - including hotels, financial centres, some retail outlets and a small amount of exclusive residential property.
Proceeds from the sale will release equity for the redevelopment of Foynes Port.
The existing port can only cater for ships of 4,400 tonnes, but Foynes can already cater for ships with 10 times that capacity, and this is set to double to over 80,000 tonnes after redevelopment.