Plans have been approved for a MX$250m (US$13.2m, €11.8m, £9.3m) aquarium development in Puerto Vallarta, Mexico.

Developed by aquarium specialists Blau Life, who are also working on billionaire Carlos Slim’s four-storey underground aquarium in Mexico City, the development will be one of the largest and most modern aquariums in Mexico, with more than 300 species to be exhibited.

An unnamed private investor is behind the plans, who the Port Authority says specialises in large, modern projects of this kind.

"That fact that we have a development of this quality, with this culture, ecology and awareness, benefits Puerto Vallarta as an ever-increasing tourism destination,” said Agustin Alvarez, director of the Fideicomiso de Turismo.

“This development will be attractive not only for the 330,000 cruise passengers who join us every year, but also for domestic and foreign visitors.”

The project is part of a larger MX$320m (US$17m, €15m, £11.8m) development of an area within the port of Puerto Vallarta. In addition to the aquarium development, a maritime passenger terminal is being redeveloped, while a new commercial area is being built. A visitor centre for cruise passengers is also being considered, which would include a tequila experience to showcase the Jalisco region. Work on the project is scheduled to start in August and is expected to be complete by 2018.