Bulwark. The shipyard itself became a works for fabricating major engineering structures. From 1938, Chepstow housed the head office of the Red & White bus company, on Bulwark Road. New housing development in the twentieth century took place to the north and south of the town centre, and more recently beyond the A466 road to the west of the town. The town developed rapidly after the opening of the Severn Bridge in 1966, which replaced the car ferry between Beachley and Aust and allowed easier commuting between Chepstow and larger centres including Bristol and Cardiff. Over £2 million was invested in regenerating the town centre in 2004–05. This scheme, which includes sculptures and other public art, encountered some local criticism over its high cost, but gained several national awards reflecting its high design quality. The area beside the river has also been landscaped in association with a flood defence scheme. Geography Chepstow is located on the west bank of the River Wye, some north of its confluence with the Severn estuary. To the north of the town, the Wye passes through a limestone gorge, and there are limestone cliffs at Chepstow both north and south of the town centre and on the opposite (east) side of the river. The town is overlooked by the inland cliffs at Wyndcliff near St Arvans, about north of the town, and, from parts of the town, the Severn estuary and its bridges can be seen. The historic centre of Chepstow occupies part of a bend in the River Wye, and slopes up from the river to the town centre and beyond. As well as cliffs used for rock climbing, percolation of acidic groundwater has dissolved limestone to produce caves in the area, including Otter Hole, one of the most decorated cave systems in Britain. The climate of the town is affected by its position close to the Severn estuary. The bedrock of Chepstow is limestone, mudstone and sandstone, overlain in places with some gravels and the clay and silt of the river's tidal flats, which are of marine origin and up to two million years old. Most of the rock was produced in a warm, tropical marine environment, when Europe was closer to the equator. The rock of Sedbury cliffs and those under Chepstow Castle are Carboniferous Limestone, hundreds of metres thick in the area, made of particles and shells of sea creatures from