Local authorities on both sides of the Border will together seek approval for plans to build a bridge at Narrow Water linking the villages of Carlingford and Cooley in Co Louth with Warrenpoint in Co Down.
The project was mooted in 1991 but a feasibility study was completed only recently by H.C. Sullivan & Co Ltd, engineers, on behalf of the Warrenpoint-Cooley Bridge Action Group.
The study findings have highlighted the commercial potential of the project for the region.
The report has been presented to the East Border Region Committee, a statutory cross-Border umbrella group representing Louth County Council, Monaghan County Council, Newry and Mourne District Council, Down District Council, Craigavon Borough Council, Ards Borough Council and Banbridge District Council.
Down councillor Éamon O'Neill said the bridge would encourage tourism. "A very strong case is now being made to the respective governments to push ahead with the project."
A Monaghan hotelier, Mr Frank McKenna, has revealed plans to build a 60-bedroom hotel and conference centre in Carlingford. "There is absolutely no doubt this bridge would contribute enormously to realising the true tourism potential of the Cooley and Mourne mountains region," he said.
A submission is being made to relevant ministers in the Republic and Northern Ireland.