The "Big Hands" sculpture which was removed from Market Square in Cavan Town several years ago is set to be erected in a new location "before the end of the year".
"Arch of Peace", by the famed sculptor Imogen Stuart, was dismantled and removed from Market Square in 2017.
At a recent Cavan-Belturbet MD meeting, it was confirmed that the piece will soon have a new home on a green area at the railway embankment on the Railway Road, opposite McCarren's.
Plans were also revealed to develop a statue to commemorate the life of Cavan footballer John Joe O'Reilly.
It will be erected next year to coincide with the 70th anniversary of his passing and the 75th anniversary of him captaining Cavan to an All-Ireland Football title at the Polo Grounds in New York - the only time an All-Ireland Final has been contested outside of Ireland.
Councillor John Paul Feeley called for the statue to be "something people can interact with" and expressed hopes the statue would be "well under way this time next year".