Anglesey Aluminium Metal (AAM) has announced that it has joined forces with Land and Lakes to develop a new holiday leisure resort on land near Holyhead, North Wales.
The company will also work with the Isle of Anglesey County Council (IACC) and Welsh Assembly Government on the project, which aims to secure a sustainable future for the site.
AAM was forced to halt smelting operations at the site in 2009 after failing to land a viable power supply agreement, although it did return as a re-melt facility in October 2009.
The company is now seeking a "sustainable legacy" for the site and will work with Land and Lakes to develop Penrhos Country Park and surrounding areas.
Land and Lakes has also been in talks with Horizon Nuclear Power over the possibility of giving over some of the land to provide accommodation for nuclear construction workers.
A spokesperson for AAM said: "It is AAM's intention to work with Land & Lakes, IACC and the Welsh Government to develop the Coastal Park and its surrounding area as a holiday leisure resort.
"Over the next few weeks and months Land & Lakes will be carrying out a series of public consultations to ensure that there is an open dialogue with the local community before submitting a planning application to the IOACC in early 2012."
Image: Penrhos Coastal Park is managed by AAM – Phil Williams