Planning permission has been sought for the plant, which would replace its Hull, Grimsby and Lincoln sites as part of the group's plans to move to full colour.
NNG corporate affairs and property director Ken Thompson said that if approved the plant would be the biggest ever single capital investment made by the group.
Thompson said if it goes ahead, the plant will open towards the end of 2007, adding that it was too early to predict what would happen to jobs at the other sites.
No decision has yet been made on what presses will be installed in the new plant.
The site will be used to print the Grimsby and Scunthorpe Evening Telegraphs, the Hull Daily Mail and the Lincolnshire Echo.
It will also produce regional editions of the Daily Mail and Mail on Sunday.
Thompson said he expected it would be between four to six months before a decision from the planners is known.
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