The Belfast shipyard, Harland & Wolff, is one of five yards in Europe which have been shortlisted for a £600 million sterling (€982 million) contract to construct the Queen Mary. It is expected to be the largest passenger ship ever built.

Cunard, the world's major cruise line operator, with a fleet of 45 cruise ships, is expected to announce which yard has been chosen for the contract within six weeks.

Mr Michael Arison, the chairman of the Cunard parent company, Carnival Corporation, this week visited the east Belfast yard as part of a tour of the bidding yards. The others are in Finland, Italy, France and Germany.

Mr Arison also met the North's First Minister, Mr David Trimble and the North's Minister of Enterprise, Trade and Investment, Sir Reg Empey, on Tuesday night.

A spokesman for Harland & Wolff said the yard hoped to win the project for the ship, which is due for completion in 2003 and will accommodate 2,500 passengers.

However, he stressed it was "not a case of this or nothing" for the yard, which only recently faced closure due to its empty order book.

"We have also been shortlisted for other major work, including Ministry of Defence contracts, offshore work and steel working activity. But this project is probably the most prestigious currently being proposed in the passenger ship building industry," he added.

Harland & Wolff is still involved in a dispute with the US company Global Marine over production costs for two drill ships.