A DERELICT site could be transformed into a riverside attraction celebrating a Gwent town’s transport and industrial heritage, under council plans.

Chepstow Town Council wants to reclaim land under the Brunel railway bridge for a public open space hosting the restored Severn Princess ferry.

The project on the Wye riverbank will include a performance space as well as sculptures reflecting the history of Chepstow’s industrial past.

The ferry is the last surviving example of the boats which served Welsh and West of England motorists from 1931 to 1966, when the first Severn Crossing opened.

Severn Princess Restoration Group co-ordinator Tim Ryan said the boat, which is no longer suitable for sailing, would be restored as a museum piece.

He estimated it will cost between £10,000 to £20,000 to complete.

“Given she’s not going back on the water and will not be working again it will be less than we originally thought,” he said.

The town Council has now submitted the plans to Monmouthshire council in preparation for applying for funding from the European Union of around £200,000.

It is thought the project will cost in the region of £300,000, with offers of voluntary work helping keep costs low.

A total of £60,000 was also earmarked for sculptures, artworks and information panels from £400,000 of Hertiage Lottery Fund money earmarked for Chepstow’s riverfront projects.

Engineering apprentices from Fairfield-Mabey in Chepstow will build a £30,000 steel sculpture for the bank.

Town councillor Ned Heywood said the sculptures will reflect the industrial shipbuilding heritage of the site.

He said: “Its a very exciting space in the very beautiful part of town.”

The scheme is not the only attempt to improve the town’s riverbank - previously scarred by decades of industrial use.

Landowner Chepstow Properties wishes to transform the Osborn International factory site into a £40 million development of flats, houses and offices.