Southern Star, a company set up as a vehicle to take over and operate the Six Flags New Orleans theme park, is confident it will be able to complete the deal later this year.

The company is still in talks with Six Flags and New Orleans city officials over taking over the park, and recently launched a new section on its website that allows potential vendors to apply for placement on the company's qualified vendor list.

Unconfirmed reports also suggest that Southern Star has signed a letter of intent with Nickelodeon, the children's entertainment group, to help redevelop the site.

Danny Rogers, founder of the Southern Star, said: "As we have previously discussed with various city officials and area civic leaders, we wish to actively include the community in our rebuilding efforts."

Six Flags New Orleans has been closed since August 2005 after suffering devastating damages caused by Hurricane Katrina and the subsequent flooding.

According to Six Flags, up to 80 per cent of the park's infrastructure was destroyed during the storm. Six Flags has declared that it no longer plans to reopen the park.

The land is owned by the city of New Orleans and currently leased out to Six Flags.

Southern Star first attempted to either take over the lease in 2007, but failed to reach an agreement with city bosses. The talks were terminated at the end of 2008.

If a bid to take over the park is successful, Rogers plans to develop the park into an all-year attraction.

Rogers added: "The waterpark elements of the project, while integrated into the overall layout, will be situated so that they can be closed off during inclement weather, allowing for the remainder of the park to stay open. This will allow the park to operate year round."