Contour Entertainment, developers of the proposed 500-acre (2.02sq km) theme park, EarthQuest, are in discussions to secure new land for the attraction in Texas by May this year.

After the lease on the first plot of land in New Caney ran out, Contour Entertainment revealed plans to start the project on a new site, rumoured to be elsewhere in East Montgomery County.

EarthQuest theme park is expected to be seven times larger than Texas’ existing AstroWorld theme park which is 30 hectares (0.3sq km).

The previous deal to build on land at New Caney fell through because too many restrictions were placed on investors, according to Contour president Chris Brown.

“The investors want freedom to develop all around the park, which would be even more profitable than the park itself,” he said.

Don Lessem, creator and founder of the park, described the development as a $500m (€362.5m, £302.5m) project in 2009.

At an East Montgomery County Improvement District meeting in February 2014, Contour's Brown explained that international investors had agreed to fund the project further.

These investors have filed for international incorporation, which is imperative for the international deposits.

Once the land is purchased, Contour Entertainment will work with local companies to build the project in several phases.

EarthQuest's plans for 50 attractions – including a 12 acre (48,562sq m) water park and an animal sanctuary that hosts threatened species – have been on the cards since 2008.