TV3 claim they are to spend millions on a home-made soap opera replacing Coronation Street and Emmerdale.
And the team behind The Only Way is Essex is shortlisted as one of the six companies set to make the 2015 soap. The same production company Lime Pictures is also behind Hollyoaks.
TV3 told the Herald that there's "no budget indication yet" as it depends on what the production companies have in mind.
However, a source from inside the station said that "it was safe to say such an undertaking would be in the millions".
TV3 asked both UK and Irish companies to pitch ideas for the Irish-made soap which will air twice a week and have 100 episodes.
The broadcaster received 16 ideas in total and have now shortlisted the submissions to its top six favourites.
TV3's Head of Independent Productions Owen McArdle gave a few hints as to what viewers of the station can expect and Love/Hate seems to have had a bit of influence.
Mr McArdle said: "The majority of the successful applicants have submitted precinct-style soaps based around the work of the gardai and the fire services."
Hospital dramas and ideas around our booming tech sector were submitted as were plot lines examining the corridors of power in Ireland.
The other five production companies include the makers of The Clinic, which starred Amy Huberman, Parallel Films and Simon Delaney's Bachelor's Walk created by Element Pictures.
Oscar-winning Once's producer Samson Films is also in the mix. TV3's 2015 soap will go head-to-head with RTE's Fair City.
Last year it was announced that the new Irish station of UTV will start broadcasting in 2015 and this is where viewers will have to tune in to catch their instalments of Emmerdale and Coronation Street when they're replaced on TV3 by the new soap.
Earlier last year TV3 hinted that they may poach some of Fair City's talent for the new show with the commercial station's boss Jeff Ford admitting he was a fan of the RTE show.
"The first people we will talk to are Irish actors with soap experience. I've seen Fair City and I think the cast and show are really good," said Mr Ford.