BOSSES behind plans to transform one of Hampshire’s biggest industrial sites have revealed that the scheme will cost an eye-watering £800 million.

Owners of the old Fawley Power Station say they are planning to build shops, cafes and a hotel as well as 1,500 homes and a marina.

Other proposals include a new primary school and a cross-Solent ferry that will also serve communities on both sides of Southampton Water.

Fawley Waterside, which bought the site in 2015, published its initial proposals earlier this year.

A few weeks later its unveiled plans to retain the power station’s 650ft chimney and convert the top of the structure into a restaurant offering spectacular views of the surrounding countryside.

But more details of the scheme emerged yesterday at the first of four public exhibitions being staged by the consortium.

Waterside residents gathered at Calshot Activities, just across the water from the power station to study Fawley Waterside’s vision for the huge site.

The 1,500 homes will range from one-bedroom flats to detached marine villas.

An existing dock will be expanded to cater for a range of marine uses and the basement of the old turbine hall will be converted into an underground car park with enough space for 2,000 vehicles.

Other proposals include a fast ferry service linking Fawley with Southampton, Hythe, Warsash and the Isle of Wight.

Fawley Waterside says it is also keen to secure the re-opening of the old Totton to Fawley railway line that closed to passengers in the 1960s.

As reported in the Daily Echo, the proposed development could create as many as 2,000 jobs over a 15-year period.

A Fawley Waterside spokesman said: “This will replace those jobs lost locally with the closure of the power station, which once employed more than 700 people at its operational peak.

“These jobs will provide an alternative to commuting by car to Southampton.”