Excavation work has began on a historically valuable medieval ship discovered buried in a south Wales riverbank.

The 15th century vessel's remains were found in the mud banks of the River Usk at Newport as developers dug foundations for an arts centre and theatre in June.

Thousands of residents at Wales' newest city have observed archaeologists' work on the ship since campaigners' cash-heavy preservation plea paid off.

Timbers could be stored in a freshwater lake

Plenty more are now watching the 65ft, ocean-going ship rise from the deep on a public viewing gallery installed by the local council.

Academics were thrilled with the find, which they said was unique in the UK and more significant than the Tudor warship Mary Rose.

Newport City Council chiefs had insisted they did not have the funds to restore the oak-timbered vessel, threatening the ruins' future.

But campaigners, who mobilised and formed the Save Our Ship organisation, pressed for public investment to safeguard the vessel.

Culture fixture

With Welsh Assembly financial help, the council then agreed to partly foot the �3.5m restoration cost, with a joint grant application to the Heritage Lottery Fund.

It is said to have been made from an oak tree felled between September 1465 and April 1466.

Expected costs

Total: �3,465,000 Welsh Assembly: Up to �3m Sir Anthony Hopkins: Unknown Ship raising: �131,000 Site construction: �1.3m Analysis: �470,000 Timber treatment: �1.5m

Actor Sir Anthony Hopkins has also pledged to chip in cash to help out.

The craft is now slated to be a permanent public fixture at a newly-extended arts centre, building for which had been delayed by the wrangle.

Plans are now being drawn up for a 280 sq metre basement under the ground floor gallery and main foyer of the new arts centre.

The site was closed to public viewers on Sunday, when about 3,500 turned out to see the ship in its found state for the last time.