The developers of Pembroke Dock's £70million marina proposal are on the verge of signing an agreement which will give them the confidence to invest big sums of money in preparing a planning application.

Without a so-called 'legal development agreement', Martello Quays Ltd would not be prepared to proceed to planning stage.

The reason for this, according to project director, Keith Williams, is that it will cost "hundreds of thousands of pounds'' to prepare a planning application.

"This is quite a complex scheme and it requires a lot of money to be spent on getting to a planning application stage,'' said Keith Williams.

"Signing a legal development agreement with the Milford Haven Port Authority will give us the confidence to proceed with this.''

The Milford Haven Port Authority is the lead organisation in this development in partnership with the Welsh Development Agency, Pembrokeshire County Council and the Crown Estate Commissioners.

"We have been working with them hand in glove on this,'' said Mr Williams.

It is anticipated that the planning application will be submitted this autumn with a view to proceeding to development stage within two years.

The reason for the lengthy gap is because other consents such as navigational rights can only be applied for after planning permission has been granted.

The framework does not allow the company to anticipate the planning application outcome by running the other consents simultaneously.

"The scheme has to be a real possibility before we can apply for other changes to be made,'' explained Mr Williams.

The 500-berth marina will include around 160 houses and waterfront properties. This will be supported by retail and commercial development with close links to the existing town.

The plans allow for a cruise liner berth, and also anticipate a multiplex cinema with an opportunity for a hotel and casino.