SIX giant fuel tanks at the regionally-important Osprey Quay are to be demolished in a planned new marine business development to boost employment in Dorset.

South West Regional Development Agency officials and Portland Port are teaming up for the "landmark" development at the Mere Tank Farm.

The tanks, built before World War I, are to be demolished later this year and replaced with buildings designated for employment use.

Regeneration work at the 1.2-hectare site is expected to create economic development opportunities for companies and workers across Dorset.

SWRDA head of operations Kay Homer for this area said: "This transaction leaves the port with a smaller, but viable tank farm."

It would secure a "prominent gateway site for redevelopment to produce new jobs and a high quality entrance to the Isle of Portland.

"This should significantly enhance the tourism 'offer' leading to significant economic benefits."

The new buildings would be of appropriate quality to reflect the area's "important status in this designated area of World Heritage Coastline".

The boundaries around the remaining tank farm would be landscaped to reduce its visual impact.

Overground oil pipelines that cross Osprey Quay would be placed underground which would "significantly improve" the area of public open space.

Portland Port managing director Christopher Langham said the sale of the farm was potentially a win-win.

The move would allow the port to store more fuel in the section of the tank farm being retained.

"Increasing the amount of kerosene stored in our tanks will allow the port and its partners to expand Portland's share of the regional market for heating oil, as well as storing additional products, both of which will generate new business and more jobs at the port.

"The land we have sold to SWRDA will additionally generate new jobs for the local area in the marine sector."