One of the major developers of the multi-billion euro Cork Docklands project has warned that the Government and the various parties involved need to start working together as a matter of urgency or investors may take their money elsewhere.

Greg Coughlan, chief executive of Howard Holdings, said the company would be submitting a planning application to Cork City Council within the next few months for a €1 billion development on the city's south docks.

He warned that the development climate for large projects in Cork seemed to be weighed down by "too much inter-institutional baggage" which could result in investors putting their capital elsewhere.

Mr Coughlan said the impasse between the Port of Cork, Cork City Council and the Government over the port's planned move downstream to Ringaskiddy needed to be resolved as a matter of urgency as the docklands project would otherwise risk stagnation.

"Each of us - developers, Government, the local authority and the Port of Cork itself - has a big responsibility here. We must work together to facilitate this critical step and an immediate dialogue needs to commence to achieve it."

Mr Coughlan, who was speaking at the Cork Chamber Breakfast briefing, said Howard Holdings currently had some €4 billion worth of development projects under way or in planning in Poland, Ireland, Britain, Spain, Portugal and Italy.

However, there seemed to be "a culture of serial objection" at work in Ireland. Ireland needed to realise that "development interest and development money is mobile and will be attracted to locations where there is a palpable air of making things happen".