Cardiff Council has approved in principle plans for an Olympic-standard whitewater canoe slalom course, to be built at the International Sports Village in Cardiff Bay.

The development would cost in the region of £6.25m and be coordinated by Hydrostadium – the French designers of the Sydney, Athens and Beijing courses.

The British and Welsh canoe Unions have agreed in principle to provide funding of around £500,000. The Cardiff Harbour Authority would provide the mainstay of funding, although further investment from the Welsh Assembly would be saught.

Cardiff Council leader, Rodney Berman, said: "This is a fabulous prospect. The facility woudl provide a suitable venue for training camps ahead of the 2012 Olympics as well as become a tourist attraction in its own right."

The news follows this weeks announcement that masterplanning work on the 2012 whitewater competition venue in Broxbourne is to commence.