Irish Sea services would be moved from Stranraer along the coast to Old House Point at Cairnryan cutting journey times to and from Belfast.
For the plans to be approved the company must submit an environmental impact assessment (EIA) and seek a harbour empowerment order (HEO) from the Scottish Government then a public consultation will follow.
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Route director Alan Gordon said: "We would hope within the next four weeks to be able to submit the EIA and HEO.
"Then it depends what objections come in whether there is a public inquiry, a hearing or written correspondence.
"After that whole process, if all the mitigation measures have been accepted, then the government would issue the permission."
If the plans which are to be submitted for the end of the month are approved the terminal could be ready for 2010 or 2011.
If plans get the go-ahead the way will be cleared for a redevelopment of the Stranraer waterfront.
(GK/JM)
