NEW businesses look set to rise from the site of the former Horwich Castings buildings.

Paul Nolan, a director of specialist chartered surveyors Nolan Redshaw, said discussions and ideas for the 120,000 sq ft site were at a very early stage, but that a number of ideas were being put forward.

The site has been disused since Horwich Castings, the last UK manufacturer of railway brake blocks and one of biggest foundries in Europe, closed in November 2004.

There were 120 job losses at the time, and the move ended the town's 120-year relationship with the rail industry.

Mr Nolan said a likely future for the site would be the construction of new buildings which could house businesses of different sizes.

"There are a number of ideas floating around for the site," said Mr Nolan. "It's fair to say that all of them will be good news for the area, as they will mean a further economic shot in the arm."

Mr Nolan said the company would discuss the future of the site with Bolton Council.

He added: "What is certain is that it will be put to good use. This area has a very strong industrial heritage, and this development will look to make sure that continues."

Barbara Ronson, leader of Bolton Council and councillor for Horwich, said the potential development represented a golden opportunity for the area.

"The Horwich Castings site, along with the adjacent site of the former Loco works, has phenomenal potential," she said. "A development there would provide exectly the kind of economic shot in the arm the town needs."

Mr Nolan said surveys would establish whether the existing buildings could be renovated, or if the site would need to be cleared and built again from scratch.

Mike Redshaw, another director at Nolan Redshaw, said: "The site is in an excellent location for industrial space."