MULTI-million-pound project has been launched to give Southampton's world famous luxury liner Queen Elizabeth 2 a permanent home on the city's waterfront, the Daily Echo can reveal.

The ship could become a floating hotel, major tourist attraction and even a wedding chapel if the scheme is a success.

The 70,327-ton liner is still in service but a Southampton based consortium is putting together an ambitious business package to buy the ship for the city when eventually Cunard withdraws the vessel from operation.

Those behind the scheme say the presence of QE2 in the port would be an enormous boost for the city as a tourist centre bringing many new jobs and generating huge sums for the local economy.

It echoes the fate of the original Queen Mary which is a floating tourist attraction and hotel moored at Long Beach, California.

Plans also call for QE2 to be kept fully maintained, while moored on the city's waterfront, so that she could always return to sea and even, as she did in the Falklands War, take up her troopship role again in times of any national crisis.

Although QE2 still has years of work ahead of her it will not be long before Cunard has to make a vital decision about her future and whether or not to spend a considerable amount of cash on the ship to comply with strict new rules regarding safety at sea coming into force in 2010.

Prominent hotel chains, global commercial giants and many of QE2 wealthy passengers, that return time and time again to the ship, are being targeted by shipping historian, Terry Yarwood, who is behind the scheme and hoping these enterprises would become part of the consortium.

"Southampton just cannot afford to miss out in ensuring that whenever QE2 comes to the end of her time with Cunard the city must be in a position to acquire such an icon,'' said Mr Yarwood, who has voyaged on the ship at least 20 times.

"Someone has to get the ball rolling, and rolling now in good time, so we are ready whenever the day comes that QE2 is put up for sale we can immediately step forward and keep her here in Southampton where she belongs.

"I know there have been previous ideas to bring other ships to Southampton but QE2 is different. This is a serious commercial proposition which at the same time preserves her for the future and that can only be good for Southampton and the nation as a whole.''

Under the plans QE2 would be ideally moored in the docks where it would have a fixed berth so it could be linked with all the shoreside utilities.

A Cunard spokesman said: "A long career stretches ahead of QE2 operating cruises in and out of Southampton and there is no need to think about her retirement at the moment.''

Councillor Peter Wakeford, Southampton City Council's Cabinet member for leisure, culture and tourism pledged to follow any bid for QE2 with interest.

He said: "While we are sure that QE2 has many successful years of cruising ahead of her, this is certainly an intriguing idea and we are sure that any proposal to make this magnificent vessel, which is a central element of our recent maritime heritage, a permanent feature on our waterfront would be welcomed by many people in Southampton."

Associated British Ports, owners and operators of Southampton docks would not be drawn on whether a long-term berth could be found for QE2 in the city.

Andrew Kent, ABP's Southampton port director, said: "QE2 has sailed in and out of Southampton for many years and she is very much an old friend of the port. When the day comes for her to cease cruising the world's oceans it would be good for her to find a home where she can be preserved for all to enjoy but whether that might ever be in Southampton remains to be seen.''

QE2 has a colourful career stretching back 35 years during which she has never been far from the headlines. The ship has been the centre of an elaborate bomb hoax, terrorist scares, taken part in many royal occasions, and has been a firm favourite with showbiz film stars.