IT could be 15 years before a much-anticipated eco-development takes shape after it fell victim to Government spending cuts.

The task force behind Eastgate Renewable Energy Village, planned for a former cement works near Stanhope, County Durham, is looking to the private sector for investment after losing £1m from the soon-to-be-abolished regional development group One North East.

The developers, which include Durham County Council and site owner Lafarge, are in talks with commercial companies.

It is hoped some will occupy sites in a revised, more modest development that could emerge in phases and take years to complete.

Project manager Lloyd Mc- Inally said the task force has confirmed interest from three companies.

He said: “We have always identified renewable elements will be part of this project.

“We have private sector interest which could make it a success, but the overall climate is very tough. I am confident that we will see something happen on the site, and discussions are ongoing.”

Eastgate Action Group, which opposed the development, accused the group of wasting money on an unrealistic development.

A spokesman said: “It is little wonder that this grandiose development has been shelved. Perhaps those concerned can inform us, the taxpayer, of the overall cost to date. How many millions of pounds have been wasted?”

Mr McInally was unable to give an amount spent, but said it was a “considerable figure”

for Lafarge.

Durham County Council could not provide a figure for public money either.

The project, dubbed eco- Disneyland, received the green light from council planners last year and promised to create 350 jobs for the recession- hit Weardale.

Sarah Robson, head of economic development at the county council, said the authority was keen to create an appropriate development.

She said: “As with all projects of this scale and complexity, they take considerable time to make happen.

“Durham County Council will continue to work with Lafarge to maximise these opportunities and would welcome the continued input of the Eastgate community to incorporate their ideas wherever possible.”

Mr McInally said: “I think if you ended up with just a few houses on the site and nothing else, then that would be selling the project short.

“We have big aspirations for the site and wanted to make it the exemplar of regeneration for the region, but we cannot deliver everything quickly.”