An eco park planned for Anglesey in Wales will continue despite a decision by Chinese investors to opt out.

The combined biomass power and food plant or Orthios eco park on the former Anglesey Aluminium site will create an estimated 500 permanent jobs.

Orthios confirmed that a funding deal with the Sino Fortune Group ended “many months ago” but they said planning requests will be submitted soon.

“Orthios still remains committed to the development of the first eco park in Anglesey,” said a spokesman for the company. A planning application for the next phase of the eco park development of the Anglesey site will shortly be submitted, with an anticipated public consultation this spring.”

The development at Holyhead is expected to generate 299 MW of electricity, which is enough to power about 300,000 homes, but the company must now find alternative funding arrangements.

Spare heat generated in the process would then be used to warm indoor ponds for king prawn farming. The UK currently imports king prawns.