A bid to bring Europe's first artificial diving reef to the South West coast has been submitted.
HMS Scylla: Reef project could be worth millions
The bid involves buying the former Royal Navy warship HMS Scylla and sinking her in Whitsand Bay off south east Cornwall to create the reef.
A final offer by the Artificial Reef Consortium has been made to the Ministry of Defence to purchase the vessel.
The proposals have been given new backing by the South West Regional Development Agency (SWRDA) and the National Marine Aquarium.
A spokesman for the SWRDA, John Taynton, said it had taken time to get the right bid together, but everyone was confident of its merits.
"There has been quite a lot of time pressure in trying to get this sorted," he said.
"But this scheme could be very useful to the region and could boost tourism in the area."
A study, commissioned by the SWRDA, indicates the sinking of the ship could turn nearby Plymouth into a global centre of diving expertise.
The attraction would also increase opportunities for local businesses through tourism, medical research and design, technology, science and education, the study said.