The first steps towards the full restoration of an 18th century disused canal between Navan and Drogheda, known as the Boyne navigation, have been taken by the Meath county manager, Tom Dowling.
He said it has the potential to become one of the country's major tourist attractions.
He put his proposal forward to a meeting of the county council and asked for approval to carry out a pre-feasibility study.
The 26km (16 mile) waterway passes by Newgrange and Slane and was used on a regular basis before falling into disuse in the early 20th century. Some re- medial works have taken place in the last two years.
In 1996 a feasibility study by consultants Brady Shipman Martin put the restoration costs at about €30 million.
Mr Dowling accepted that "in today's terms this project would cost an enormous amount". However, he said the council should look at accessing funds under the National Development Plan and "the timing is particularly important now with both Navan and Drogheda earmarked as primary growth centres".