The aim is to provide additional pontoons, shoreside marina facilities and a world class dry boat sailing centre to meet the growing demands of visiting and local yachtsmen.

The commission will also be investing in the provision of a new dedicated yacht storage and service site at East Cowes with an "all states of the tide" 40 tonne lift out, wash down facility and workshop units to accommodate marine service companies.

Captain McIntosh said the construction of a new yacht lift dock and mooring basin at Kingston Wharf, adjacent to East Cowes Marina, is already under way and the yacht storage and service facility will be operational by Autumn 2004.

The new Kingston Marine Services site will be used for the relocation of the cruiser class vessels currently stored ashore at Shepards Wharf and has the advantage of shore storage facilities totalling 3.45 acres and a range of existing brick built workshops for occupation by independent marine service companies. The commission says it expects to see marine engineers, boat repair, riggers, chandlery companies taking advantage of the facilities.

Owners with boats stored on the site will be able to carry out work or arrange for site or non-site resident marine companies to come on site.

The main phase of the development will commence at Shepards Wharf in October 2004 with the construction of a new marina - targeted predominantly at the cruising yachtsman - and the dry boat sailing centre.

The key work will involve the demolition of the southern pier, construction of a new seawall, dredging of the new basin and installation of a new pontoon system. The work is due to be completed by mid April 2005 ready for the 2005 season.

The commission says the development will help the regeneration of East Cowes. It will also continue the opening up of the waterfront to the public and provide the next section of sea defences and flood protection that was initiated with the Town Quay development.