A new energy plant could create up to 1,000 jobs.
Plans have been drawn up by the Port of Tyne to build the renewable energy facility in Howdon.
The company is looking for planning permission with consultations underway on the application to build the 25 megawatt power plant on the site of the former Howdon Yard.
The proposals have the potential to regenerate a site that has not had a permanent use for decades, and is limited for other types of development due to its proximity to the Tyne Tunnel and other major utility service channels under the surface.
Andrew Moffat, Port of Tyne Chief Executive Officer, said: “This proposal would bring the site back into viable use, sustaining local employment and creating further economic benefits for the local economy.
“It would be an important contributor to the UK’s energy supply.”
There is also the opportunity to use heat generated from the plant to create a direct heating scheme for a building or project nearby.
Mr Moffat added: “We are keen that the local community also benefits from this project not only in terms of the jobs being created but by other means and that’s why we are establishing a community fund specifically for the purpose of making a difference in the nearby local community.”
The development would produce enough electricity to power 50,000 households using state-of-the-art technology to convert household waste to energy.
The project would create 470 jobs in construction, 50 new permanent jobs once in operation and 732 jobs in the regional supply chain.
The proposed power plant uses gasification processes which turn waste into gas without actually burning it.
This leads to the production of steam from which electricity is generated.
There is no waste externally stored on the site – the waste is transported in sealed bales directly into the fully enclosed facility.
The plant is designed to minimise any environmental impacts such as smell, dust or noise so that any potential emissions are well within national and European air quality standards.
If plans are approved, the facility could be under construction by autumn 2017.
The Port of Tyne will have the plans on display and the project team on hand to answer questions at East Howdon Community Centre on Wednesday between 2.30pm and 7pm.