A gay “Pride in Swansea” festival is set to be held at the tail-end of summer, it has been revealed.

The announcement follows the cancellation of Cardiff Mardi Gras earlier this week, after the popular event was unable to find enough financial support.

“It is sad to learn that Cardiff Mardi Gras will not be happening this year but this has made us more determined,” Peter Martin of GaySwansea.com told PinkNews.co.uk.

Talks have been ongoing since before the new year, but today marks the official announcement of the event, with organisers asking anyone who wants to get involved to attend the “Pride in Swansea” meeting at 6.00pm on the 12th of March in the Hush Bar Cafe.

The event is set for the 6th September 2008.

“Swansea is a major city and it is time for us to initiate an annual Pride for Swansea,” Mr Martin added.

While the Cardiff Mardi Gras is the largest gay pride event in Wales, attracting over 40,000 revellers, its postponement until at least 2009 gives “Pride in Swansea” time to establish itself.