regi create workspace error

HI

When I try to run the below command its returing an error code.

venus:~>hdbuserstore set dbuserkey localhost:30512 SYSTEM XXXXXX (Masked the passoword)

venus:~>regi create workspace dbworkspace --key= dbuserkey (Error's, below is the error message)

An error occurred: Connecting to the database failed Connection failed (RTE:[89006] System call 'connect' failed, rc=111:Connection refused

Please suggest on how to troubleshoot and resolve the error.

Thanks

Naresh