He believes the ferry would be a major plus for tourists exploring the east coast area.

Addressing the road infrastructure issue, he said: “We are very anxious to stay true to our commitment to residents to use our best efforts to make sure their road is upgraded.”

Alongside the obvious benefit to tourism, there could be a jobs boost in the form of at least 35 posts on the Greencastle side where it is proposed to moor the ferry.

Mr Tosh added that a series of “exhaustive surveys” among residents and tourists have yielded positive responses.

“This is not a time for nit picking but a time for being ambitious and taking the opportunities for the project which are coming down the pipeline,” he continued.

Mr Tosh said the appetite for such a project is “quite startling” despite the long delays involved, and added that the “normalisation of society” in recent years has helped to move the project forward.

“We set out to try to establish a non-contentious landing site on the Greencastle side and we have done that.

“The mood has changed among residents and we have been in continuous discussions with them. They are positive. There’s a legacy of under investment in the roads in the area since money has had to be diverted to other services.

“We have been very quietly working on bringing this forward. We have commissioned an environmental impact assessment, and are doing a design and submission plan in July 2012,” Mr Tosh added.

“I’m delighted to be able to say that all capital has been, and will continue to be, raised from the private sector,” he continued, adding that he has been encouraged so far by the response from local councillors.

The promoters of the project have pointed out that between February and October 2011 in excess of 3,000 face to face surveys were conducted at eight points between Newcastle and Castlebellingham in County Louth.

They said that on average 80% of those surveyed were welcoming or very welcoming of the ferry and only three per cent objected to it.

“On average 75% of those interviewed said they would use the ferry,” they added.

The main reason given for supporting the ferry was that it would increase accessibility to both sides of Carlingford Lough.

The promoters said they had the support of the Northern Ireland Tourist Board, Tourism Ireland and Failte Ireland.

Speaking about the proposed ferry, SDLP councillor Sean Rogers said that while he could not ignore the potential boost to the local economy, he is still very much aware of the residents’ concerns.

“The only hope for this ferry would be a major improvement to the roads infrastructure. Whilst I give my conditional support for the ferry, it cannot happen without major improvement to the road.”

Cllr Rogers said that although a large amount of research has been done, the needs and concerns of local residents have to be taken on board.

UUP councillor Harold McKee also believes the roads are inadequate at present, and said the issue requires resolution before anything can proceed.

He added that potentially 400 more cars a day on the area’s already dated roads would bring added pressure but conceded that it would “bring a bit of life to the area” in tourism terms.

The Mournes councillor added he believes that although residents were initially unambiguously against the idea, they are more in favour of the project as it stands presently.

DUP councillor William Burns remains opposed to the plans while the roads issue remains outstanding.

“For tourism it could give a boost but until the roads are upgraded they are putting the cart before the horse with this project,” he said.

Cllr Burns expressed concern about any possibility of public funding being used as part of the project. He said even minor road works in the area are being shelved due to lack of funds, and questioned where the money would come from for up to 14 miles of road to be improved.