Plans for the AU$3bn (US$3bn, £1.9bn, 2.3bn euro) Tropical Paradise Resort - a themed entertainment destination in Queensland, Australia - have been put on hold owing to difficult economic conditions.
Other contributory factors to the delay has been the tourism downturn in Cairns and the high Australian dollar.
The promised funding for the project has been withdrawn due to the economic climate, which in turn has prevented the Environmental Impact Assessment from being carried out. However, a spokesperson for Tropical Resort Developments (TRD) said the team is still dedicated to bringing the project to fruition.
He said: "The consortium remains committed to the project but until funding becomes available we are not in a position to proceed with the Environmental Impact Assessment.
"This is a shame as Cairns needs a project of this nature to underpin its long term future. Everyone agrees this is the right project for Cairns but the funds to proceed with further studies are just not available."
TRD's plans for the 300-hectare (741-acre) scheme near Cairns feature a US-branded theme park, a number of themed hotels, a film studio, an entertainment centre, a waterpark and an extreme sports complex.
The proposals also include an aquarium, a multiplex cinema complex, themed restaurants, shops and clubs and a spa complex.
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