The original players in a Southampton resort development project worth more than $200 million are still at the table, officials confirmed yesterday.

Speculation that Morgan's Harbour Investment Limited had been edged out surfaced when it lost its exclusive right to develop the formal Naval Air Annex after failing to secure financing.

But MHIL and its plan for the site are still on board alongside the new -- as yet unidentified -- developer/investor lined up for the Morgan's Point initiative.

MHIL chief executive Rob Davies told The Royal Gazette : "It is correct to say that we are still involved in the project.

"Our situation is that we have a partner with development skills which has joined us as a major investor. We are in it together. The concept and vision remains exactly as originally planned.'' MHIL was selected to develop the site in March, 1997, but later lost its exclusive arrangement with the Bermuda Land Development Company when financing plans fell through.

The local company was formed by UK-based Renaissance Resorts International and intends to put a cottage colony, marina, village centre, elderly housing, residential units and a golf course at the site.

Renaissance are still involved as is golf great Jack Nicklaus, who will design the golf course.

Work at the 250-acre site was postponed indefinitely this week when it emerged that the new investors in the scheme -- who have yet to be named -- would not make a commitment until after the General Election.

But contractors have toured the site at the invitation of the developers who have met with senior Government and Opposition officials.

BUSINESS BUC