Tynwald will be asked to approve £3.5 million to spend on a new site for a ferry terminal in Liverpool.
The Department of Infrastructure will make the request this month in order to buy the land at Princes Half-Tide Dock.
Politicians will also be asked to endorse a set of principles which would underpin a new strategic sea services policy for the future.
High ground could see 4 inches of snow on Saturday night
Mountain Road unlikely to open before Monday
Yellow warning for freezing temperatures tonight
School bangers night called off
AK47 and Uzi handed in to police
"No dispute" over Liverpool Ferry Terminal, says main contractor
More weekend bus strikes to come after 10-day walkout?
Minister to face question about bus strike