HOPES of a money-spinning bike uplift for the Tweed Valley will have to wait until a private firm shows some interest.

The news comes on the back of locals slamming the council and other public bodies over delays in starting the project.

The proposal, a gondola-style chairlift to be installed on the downhill tracks at Innerleithen, has been on the table for several years but hasn't progressed further than a feasibility study carried out in 2007.

A joint venture between Scottish Enterprise, Scottish Borders Council (SBC) and Forestry Commission Scotland, found it needs £5 million of public sector backing and another £5 million from private enterprise.

But not a single private company has so far shown the slightest bit of interest.

Jaymie Mart, a downhill world cup competitor who lives in the village, told the Peeblesshire News: "This project has been around for years without any real progress being made. It's about time the council stopped talking and put their money where their mouth is.

"The Tweed Valley has produced some world-class bikers over the years and has an international reputation for being at the forefront of the sport.

"The footfall that Glentress alone attracts brings a massive financial boost to the whole area. The chairlift would be the first of its kind in the UK and would attract thousands more riders every year.

"With the closure of Cleikum Mill causing 132 redundancies, the area needs all the investment it can get.

"If the council don't get their act together soon, another area in the UK will and a golden opportunity will have been missed." But Neil Calvert, Deputy Leader of SBC and Executive Member for Finance, says that without private enterprise involvement the project is unlikely to move forward.

"It has proved difficult to get private businesses interested in this project, mainly because we are facing such a tough economic climate.

"A project such as this would cost a lot of money to both build and maintain, therefore SBC can't be the sole financial contributor to this project." However, the chairlift is projected to create up to 200 new jobs and Local MSP Jeremy Purvis says it is vital that the scheme is progressed.

Mr Purvis said: "Both Innerleithen and Walkerburn need an economic stimulus - this chairlift could provide the biggest financial boost in years.

"I'm absolutely convinced that this represents the chance to make the Tweed Valley the best biking facility in Europe, if not the world.

"The Whistler resort in Canada, currently hosting the Winter Olympics, sent over some of their managers to see the Tweed Valley - they said they were incredibly envious of the potential we have here.

"All that is needed to get this chairlift off the ground is the collective will to make it happen."