This type of error typically occurs when a resource file does not get copied to the correct location by the SharePoint deployment engine. Typically you can force SharePoint to update the resource files with the following command…

stsadm –o copyappbincontent 

However, this command is hit or miss. If that doesn’t work check for the existence of the prov.resx file in your App_GlobalResources directory of your IIS virtual directory. This file should be identical to ’12\Config\Resources\prov.resx’. If the file does not exist or is different you can manually copy the prov.resx file into the App_GlobalResources directory. Perform an IISRESET to update the resource file.

Thanks I will do that. I read that in another topic as well.

 Btw, the site was created but it didnt show the default.aspx page. When I browsed to url/_layouts/settings.aspx  I could see it created the site

The above suggetion did not resolve my problem. 

Resolved By Granting the WPG (Worker Process Group) FC on the Global_AppResource Directory underneath the application root directory