A bid by a New Zealand consortium to build French Polynesia's biggest tourism complex has failed.
The French Polynesian government said a board meeting of the commissioning agency found that the consortium Kaitiaki Tagaloa was unable to meet the contractual obligations to build the Tahitian Village.
Kaitiaki Tagaloa was in line to construct a $US700 million segment of the project, which included several three-to five-star hotels and apartment complexes, totalling more than 1500 units.
The consortium, which is led by Tukoroirangi Morgan, won the bid last year but missed three deadlines to finalise the contracts.
After getting a first extension in March, it got another one in May purportedly for more New Zealand Maori tribes to be included in the project.
After missing last weekend's deadline, the vice-president Teva Rohfritsch has now asked the agency board to meet again within 10 days to consider the options for fresh consultations to be opened.
Last month, Mr Rohfritsch said there were other investors ready, including local ones.
The Tahitian Village is a downscaled successor project to the $US3 billion Mahana Beach project which was abandoned after facing funding problems.