The 300 metre long port development would have the capacity to hold three berths, as well as incorporating a roll on roll off ferry berth.
The water depth for the proposed project would be 20 metres.
Engineering consultants, representing the developer behind the scheme, recently met with Newry and Mourne councillors to elaborate on the plans.
At the meeting, a consultant from RPS Engineering suggested around 75 new jobs could be created by the Louth development.
RPS also said Warrenpoint would benefit from the proposals.
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A Greenore Port spokeman said both ports could collectively establish new equally-beneficial routes.
However, a number of Newry and Mourne councillors expressed concern at the meeting.
After leaving a previous meeting with RPS, Councillor Henry Reilly said he felt "very concerned".
Councillor Reilly said: "Warrenpoint Harbour is a jewel in the economic crown of Newry and Mourne and I think we should be objecting."
"I think as a Council we should be objecting very, very vigorously," he added.
Councillor William Burns said such a project could pose a "major, major threat" to Warrenpoint Harbour, as it would offer greater advantages over its counterparts.
Councillor Michael Carr raised environmental concerns about scheme's impact on Carlingford Lough, which is a designated as an Area of Special Scientific Interest.
"I just feel it is not a welcome development on the Lough," said Mr Carr.
Around 12 acres of foreshore would form part of the proposed development, which engineers RPS said would result in "small, localised changes in local tidal flow patterns".
However Mr Carr said the problem was underestimated: "Where is the water going to be going? My view is that it will go out at the weakest point and for me that is the Warrenpoint to Rostrevor road, which is prone to flooding at the present time."
(PR/JM)
