The contract for construction of the slipway has been awarded to Dean and Dyball and the work is expected to be completed towards the end of 2004.
The new boathouse will be located to the east of the existing structure on the site of the old 'Royal Victoria Pier' and will house the new Tamar class slipway lifeboat, due to come into service in 2005.
The existing boathouse has occupied the current site since 1905 and has undergone various adaptations over the years to accommodate several classes of lifeboat.
The RNLI's shoreworks manager, Howard Richings, said: "The decision to rebuild and relocate the boathouse was taken after lengthy studies. The new location will give much better access to deep water as well as providing increased accommodation for both the new lifeboat and modern crew facilities."
The initial work will involve the driving of piles to form the supporting structure for the slipway and boathouse. This will be followed by the construction of the reinforced concrete deck upon which the boathouse will be constructed.
It is hoped, subject to reasonable weather conditions, to have this phase of the work completed before the end of the year in order that work on the superstructure may continue in the 'dry' throughout the winter.
Meanwhile, the first in a series of public information sheets detailing the project has been produced by the RNLI and is available by contacting the lifeboat station at Tenby.
• The future of the existing boathouse, in the short term, will continue to house the current lifeboat. The planning authority wish to wait until the new boathouse is built before considering any application for demolition or change of use of the 'old' boathouse.


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