The future development of the Port of Falmouth, is again under scrutiny and being examined in a new study with a view to producing a masterplan for the Port.

Tibbalds Planning and Urban Design are carrying out the £230,000 study which is being partially financed with public money by way of European money from the Convergence Programme and Cornwall Council, along with A & P Falmouth and Falmouth Harbour Commissioners.

The study comes at a time of huge cutbacks in public expenditure and withdrawal of offers of funding to Falmouth some months ago to enable dredging to go ahead alongside the docks.

If the findings of the current study are accepted it is not clear whether they will go ahead or not.

Carolyn Rule, Cornwall Council cabinet member, said: "There are enormous opportunities for Falmouth and this study will allow us to look at the big picture for the Port. We want to make sure that we come up with a co-ordinated plan to maximise all of the Port's attributes and the contribution it can make to Cornwall's economy."

Staff from Tibbalds are already consulting with a variety of organisations to get a broad range of opinion on future plans for the area.

Currently work has reached a crucial stage where options for the Port are being looked at in detail. There will be an opportunity for all to comment on the Masterplan at a public consultation event to be held in the Autumn.

Mike Reynolds, Falmouth docks port operations director said: "This study is vital to the future of Falmouth as a port and as a leading player in the maritime economy of Cornwall and the South West. We hope that through working closely with all those with an interest in the success of the Port, we will develop a Masterplan that builds on our current success and secures a prosperous future for the Port."

Captain Mark Samson, harbour master said harbour commissioners were pleased to support the initiative. "We believe that the Port is at a crossroads in terms of its capabilities to serve future markets and see the Masterplan as essential in determining a clear way forward that can be supported by the key businesses in the port, the local authority and other key agencies."