Falkirk councillors have agreed to push ahead with a major project to redevelop the site of a former aluminium plant and boost the local economy.
It is hoped that the move at the former Alcan site will create up to 715 jobs and bring £50m of private investment to the area.
The 35-acre stretch of land was bought by Scottish Enterprise in 2005.
However, the organisation's ongoing funding problems have prevented it from putting more money into the site.
Business interest
On Tuesday the council agreed in principle to a joint venture scheme with Scottish Enterprise to take the project forward.
Scottish Enterprise has so far invested £4.5m in the site, at Langlees, and the council will have to put in up to £3.15m to meet clean-up costs.
The local authority said the redevelopment is also vital to secure plans by supermarket giant Asda for a large expansion in the area.
Clearance at the site, including demolition of the existing buildings, is already under way, with the work due for completion at the end of the year.
A number of companies have also expressed an interest in moving onto the site, despite the fact that no formal marketing has taken place.
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