The Taoiseach says boats will be docking in the Clones marina by the end of 2023.
Micheal Martin is in Monaghan today to turn the sod and lay the foundation stone for Phase 2 of the Ulster Canal Restoration works.
This will see the development of a marina at the Canal Stores, as well as walking and cycling paths as far as Clonfad.
Works on the marina began last week, and when Phase 3 is completed the Ulster Canal will be functional from Clones to Lough Erne.
Speaking at the event in Clones, Taoiseach Micheal Martin said the border town will benefit greatly from the development.