Northern Ireland political leaders, Peter Robinson and Martin McGuinness, announced the redevelopment of the Maze prison, the former top-security prison site.

The redevelopment plans for the new facility will promote the success of the peace process. It will also keep the key prison buildings, including those linked to the IRA hunger strike in 1981 with the proposals including the construction of an EU-funded Peace Building and Conflict Resolution facility.

“The Office of the First Minister and Deputy First Minister will shortly submit an EU funding application for a Peace Building and Conflict Resolution Facility on the site. It is anticipated that the centre will be a world class facility of international importance designed to strengthen our peace building expertise and to share our experiences with others throughout the world”, Deputy First Minister McGuinness said.

According to Northern Ireland political correspondent Gareth Gordon, a board will be appointed to manage the facility. It will include ex military personnel, former prison officers and police officers along with victims, politicians and former republican and loyalist prisoners.

The corporation will manage the opening and redevelopment of the site including the construction of the Peace Building and Conflict Resolution facility.

Mr Robinson and McGuinness said that a new development corporation would also unlock the economic potential of the sprawling 360-acre site, creating 6,000 jobs.

Royal Ulster Agricultural Society has also thought of moving to the site.

Colin McDonald, RUAS chief executive, said he hoped plans to develop the Maze site could now be “speeded up”.

Alliance Lagan Valley MLA Trevor Lunn also welcomed the announcement, but said there was “much work to be done” before Northern Ireland would see the benefits from the development.