Gusts of up to 130KPH could be expected when the warning comes into place from 10pm on Thursday night.
A yellow warning will also be in place for the rest of the country at the same time.
Here an Amber Warning is in place all day.
Storm Callum is expected to pass over the country in a northerly direction, with warning for Donegal, Galway, Mayo, Sligo and Clare set to expire at around lunchtime tomorrow.
Members of the gardai, the coast guard, the defence forces, and Met Éireann, as well as a number of other bodies will attend a meeting at 3pm today to discuss preparing for the harsh weather.
On Saturday, areas over high ground could see a further 50 to 80mm of rain.
Higher wind speeds will impact all areas of the province, with exposed coasts and hills the worst affected.
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However, it is Friday (October 12) which is set to see the full force of Storm Callum, with increasing cloud which brings rain northwards through the afternoon.
A road that was closed after an accident at Slieve Gullion forest park near Newry, Co Down, where a contractor working for Northern Ireland Water died after he was hit by a falling tree as Storm Ali wreaked havoc across Ireland.
Arriva Trains Wales is planning to shut the line between 7am and 11am on Friday morning and in the evening.
"Our teams are doing all they can to reduce the risk for communities, but if there is flooding we want to make sure people are doing all they can to keep themselves safe".
There will be rough seas and large waves, making coastal areas unsafe.
"There will be rain later tonight and, combined with winds and high tides, there is a risk of coastal flooding".
Winds that could top 80mph are forecast to batter western Scotland on Friday followed by downpours across more of the country on Saturday.