The business consortium behind a plan to build a theme park in the Republic has this afternoon confirmed its plan but said the attraction would not open until 2007 at the earliest.
In a statement, the Vega City Consortium confirmed its intent "to develop a family entertainment destination in the eastern region of the country."
Reports this morning said the Disneyland-style park would be built near Lusk, Co Dublin.
"The project, which is at a very early stage in its development, is subject to the consortium firstly concluding legal contracts with landowners and then securing planning permission at some time in the future," the statement said.
"In the event of securing planning permission, the consortium estimates that the first visitors to Vega City would be in approximately 4 years from the date of approval," the statement added.
The consortium said it would outline its plans in detail once "key milestones" had been reached in the coming months.
It was reported this morning that investors have been promising householders in the Lusk area double the value of their properties in a bid to create a €7 billion development twice the size of the Phoenix Park.
Planners for the proposed area in north Co Dublin said they held preliminary talks with the consortium but so far no planning application had been lodged.
Officials believe that if the plan went ahead it would create about 25,000 jobs and would be the single biggest construction project done in the Republic.
The theme park would feature a Disneyland-style layout, a safari park and rides, and would be centred on a large lake for water activities. A number of shops, restaurants, hotels and apartments would be built alongside. It was reported a hospital and major conference centre may also be included in the proposal.
Local Fianna Fáil TD Mr Jim Glennon said in a statement today he had been approached by a number of constituents who had been contacted by the developers.
As a result, he met representatives from the consortium and discussed it with them. "It is important however to understand that this is an extremely ambitious project and is only at a very preliminary stage," he said. "I intend to work closely with Fingal County Council, those behind the consortium and my constituents to ensure this project is handled correctly and properly."
Mr Peter Gillette, executive planning officer with Fingal County Council, told RTÉ: "It [the planned development] is a vast area. It is over three square miles. It would be the equivalent of a good-sized Irish town. We are talking about the infrastructure requirements for a very, very major project."
