Falmouth Docks could be regenerated with modern wharves, new bays, a residential development and shops if an �80m scheme is approved.

A and P, the company which owns the site, announced their initial proposals on Monday.

The Falmouth-based firm wants the docks to be able to handle larger cruise liners as well as building a new residential and commercial development.

The investment would see industrial and retail areas of the grounds integrated into the docks.

'Exciting day'

The chief executive director of A and P, David Ring, said: "I think it's a very exciting day because the docks have been in Falmouth for many years and what we want to do is come up with a scheme that protects them for many years in the future.

"We've been able to come up with a set of proposals which we're starting consultation on today.

"They will allow further investment in the docks and allow them to progress into the future."

Mark Sansom - chief executive of the Falmouth Harbour Commissioners said: "We'll be delighted if it comes off.

"It's a very promising plan and would regenerate and safeguard the future of the area.

"There are a number of innovative ideas about leisure facilities and the like, which we would be delighted to see coming to fruition."