The sculpture of two stainless steel figures hard at work has been designed and built by renowned artist John McKenna following a public vote and consultation.
The 'Shipbuilders of Port Glasgow' statue, which will take pride of place in the town's Coronation Park, pays tribute to Port Glasgow and Inverclyde's shipbuilding past.
When installed the figures will measure 10 metres (33 feet) in height with a combined weight of 14 tonnes.
It is thought to be the largest sculptural figure of a shipbuilder in the UK and one of the biggest of its kind in Western Europe.
Work on the foundations will begin on Monday and is expected to be completed by the end of November, subject to weather conditions and material supplies.
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That will then pave the way for the installation of the sculptures themselves early next year.
Councillor Michael McCormick, Inverclyde Council's convener of environment and regeneration, said: "I'm delighted that work is about to get underway on what will be an iconic landmark for Port Glasgow and indeed Inverclyde, encouraging more people to discover the area.
"A project of this magnitude doesn't come without its challenges and we have had some difficulties along the way but with the sculptures themselves practically finished and with us now in a position to be able to begin with the foundations, this long-awaited development is finally starting to become a reality.
"These sculptures look to the past and the future by paying tribute to our illustrious shipbuilding heritage and the workers who contributed to that while serving as a modern-day tourist attraction bringing people to Port Glasgow and Inverclyde."
Visitors to Coronation Park are being advised that in order for the foundations to be installed some areas of the park, access road and car park will be out of action for the duration of the works.
There will be a temporary traffic regulation order in place along the entire stretch of the access road and one side of the car park prohibiting parking, waiting, loading or unloading.
Any vehicles found in breach of the order will be subject to a penalty charge notice.
