Swansea-Cork ferry talks ongoing

The Swansea-Cork Ferry has not sailed since the boat was sold in late 2006

Backers aiming to refloat the Swansea to Cork ferry are in ongoing talks with the owner of a replacement boat.

During the last month they say over £2.5m in private money has been pledged towards the business venture.

A consortium has identified a 340-cabin ferry that could carry 1,400 passengers that would cost them around £9m.

Backers failed with a bid for the boat on Thursday but said negotiations were continuing and they were still hopeful of success.

The rest of the funds would come from bank loans, industry sources and grants.

The service which ceased in 2006 is estimated to be worth £70m to the combined economies of southern Wales and Ireland.

Investors on both sides of the Irish Sea have pledged funds.

The consortium said it was now vital people who pledged money should submit their cheques and cash.