THE finishing touches are being added to a £1bn revamp scheme for the former Cammell Laird shipyard.

Business consortium Reddington Finance claim they have the backing of Middle East investors from Dubai for the transformation of a dour industrial site into a massive leisure, retail and residential complex on the banks of the Mersey.

Wirral Council leader Cllr Steve Foulkes insisted, however, that nothing clear-cut would emerge within the next month or so.

He said: "We have had two round-table meetings following the release of a consultants' report on prospects for shipbuilding and ship repair work and we have reached no hard and fast conclusions.

"We have to take on board the wishes of the main site owners and we will consider their proposals as a matter of course. We will be more than happy to listen to them."

Reddington's plans also include construction of an island from reclaimed land in the Mersey.

A stretch of waterfront has also been pencilled in for a man-made beach overlooking a water recreation area.

Reddington reckon that projected plans for the shipyard site are worth around £1bn. Talks are being held with the owners of the Tamworth snow dome - a key element of the leisure proposals - and they are confident of securing a deal to operate a similar venture on the site.

Luxury waterfront apartments, retail and office blocks and a five-star hotel are also in the mix and around 4,000 jobs are expected to be created.

A recent consultants' report concluded that the former shipyard had reached the end of the road and there was no scope for an expansion of ship repairs.

But there is still significant resistance against move to pull the plug on shipbuilding activity on the Mersey.

Council leaders and Birkenhead MP Frank Field refuse to acknowledge that the yard is beyond hope.

Mr Field has criticised the Reddington scheme - he wants a return of shipbuilding and claims he could find contract work for the yard.

Cllr Foulkes said recent talks had included a whole range of organisations linked with the Cammell Laird site - including North West Shiprepairers, A & P, Mersey Maritime - the umbrella organisation for the whole of the maritime industry - and Mersey Docks and Harbour Company.

Reddington could not be contacted.