Devonport dockyard bosses are proposing to bring seven decommissioned nuclear submarines from Scotland for dismantling.
There are seven subs stored at Rosyth
A bid to dismantle the submarines at the Nigg yard in the Highlands has been withdrawn following strong opposition from local people and MPs.
Devonport Management Ltd (DML), said on Wednesday that it was a "feasible option" to move the submarines from their current base in Rosyth, Fife to Devonport in Plymouth.
Devonport is the only yard in the UK currently licensed to dismantle the Navy's nuclear submarines.
A DML spokeswoman said: "We have the experience and the facilities, so people in the area should not be concerned.
"We would not bring them here if it was not a safe option."
Devonport already has four nuclear submarines awaiting dismantling, but that cannot start until the Ministry of Defence (MoD) decides who should get the licence to store the 800-tonne radioactive reactors.
DML wants to ship the reactors to a site at the Dounreay nuclear testing station in Caithness.
But the MoD is also considering proposals from three other firms.
Another 16 nuclear submarines are expected to be decommissioned in the next few years.
The MoD is expected to make a decision on the bids by August 2005 and start the new storage procedures in August 2006.