PLANS for a multi-million pound hotel and restaurant complex in Alloa have been given the go-ahead.

As previously reported in the Advertiser, the proposed development by Wasp Property Ltd at Hilton Road � beside Alloa Athletic's Recreation Park stadium � could create 100 jobs.

Delighted Wasps owner Mike Mulraney told the Advertiser, "I believe it is an excellent project, there are a number of parties interested in the site and I believe we can convert it sooner rather than later.

"It is fantastic news, if we can pull it off it's beyond words what it will mean for this area." The focal point of the proposal is a budget-style hotel, which Mr Mulraney says the town desperately needs.

"This is the type of facility that Alloa is lacking. If you are working in the area you have to look elsewhere for accommodation," he said.

"We've done our research and there is no doubt we are losing economic opportunities to our neighbours in Falkirk and Stirling because there are not the rooms." While part of Alloa football club's ongoing plans to improve its � and the town's � economic fortunes, there will be no risk to the local team.

Mr Mulraney added, "I want to stress that the football club will not be exposed to any commercial risk � we will ensure it is insulated from that possibility." Wasps Property Ltd envisage a more detailed application being submitted early in 2011 � with work possibly beginning by the end of next year.

The project was given the green light at last week's meeting of Clackmannanshire Council's planning commitee.