A SHORTLIST of companies wanting to share in the £500m transformation of a derelict North-East dockland will be announced today.

Scores of developers showing an interest in the Middlehaven redevelopment, in Middlesbrough, have been whittled down to six contenders.

Architect Will Alsop announced his master plan last year, with projects including a cinema resembling an electric toaster, a "Kerplunk" hotel and other buildings in the shape of sugar cubes and prada skirts.

Joe Docherty, chief executive of Tees Valley Regeneration, said: "We advertised in the national property Press for expressions of interest for Middlehaven and are very excited at the quality of applications which we received."

He said of the shortlisted six: "These companies share our ambitions and can see that Middlehaven is a fantastic place to invest. With this calibre of developer behind us, we know that Middlehaven is really going to take shape and that the market is endorsing our masterplan."

The £250m first phase of Middlehaven will be a waterfront development, built around the old dockland basin.

Sean Egan, project director at Tees Valley Regeneration said "One, two or possibly three developers will be finally chosen to develop the majority of the first phase at Middlehaven. People felt very excited by the masterplan, but this is even better because this is reality."

Middlesbrough Mayor Ray Mallon said: "Middlehaven is crucial to the future prosperity of Middlesbrough and the Tees Valley and we are determined to be innovative and ambitious in our approach.

"Clearly, developers have recognised what an exciting and attractive prospect this offers and I am delighted that so many have reacted positively to the very high standards we have insisted upon.'