HOPES of building the world's largest freshwater aquarium in Gwent, bringing with it millions of tourists, were dashed yesterday.

A site in the Caldicot area was being considered for the aquarium which, it was claimed, was expected to bring in up to two million visitors a year and become one of the UK's top five tourist attractions.

Yesterday, the National Institute for Research into Aquatic Habitats (NIRAH) announced that, after careful consideration, it had decided to offer a Bedford-shire consortium a period of exclusivity until the end of January to finalise their plan.

Four times the size of the Eden Project, the planned aquarium would have created a 100-acre complex.

Other sites across the UK, including one in Liverpool, were also being considered for the scientific, education and leisure scheme.

The site under consideration near Caldicot was part of the Gateway to Wales scheme which included a major housing development.

George Ashworth, head of planning for Monmouthshire county council, said that the scheme was presented to the council as part of a larger scheme promoted by P&O Developments through the unitary development plan.

Monmouthshire opposed the overall scheme which came with 2,000 houses and 129,000 square metres of retail space.

Mr Ashworth said: "Over-all the scheme and scale of which was out of proportion to Monmouthshire and unacceptable on that basis.

"We would be pleased to work with NIRAH to look for alternatives sites, including adjoining authorities with large brown field sites."

He said he felt the scheme would be welcomed in certain locations but the area they had chosen, with open countryside and greenfield sites, was a bad one.

Bill Edgerley, managing director of P & O Develop-ments, said: "It seems we have not been able to convince Monmouthshire county council of the benefits of NIRAH and the Gateway Project.

"However, we will continue in our efforts to see if there is still an opportunity to change the minds of people at NIRAH as to their present decision.

"We are convinced that the area that we had proposed to develop between Caldicot and Newport will, at some stage, be developed.