Plans have this morning been revealed for a £250m low-carbon motorsport venue in Wales which could attract the MCE British Superbike Championship or even WSBK and MotoGP after 2015.

The Circuit of Wales, in Gwent's Ebbw Vale, will include a 3.5-mile circuit complex to host both motorcycle and car racing but the project will also include investment in industrial, commercial and leisure developments.

It will provide opportunities for the growth of advanced engineering, education, safety in motor sports and green transport-related businesses. The main circuit will be accompanied by an international kart track and motocross tracks.

“This is a major private sector-originated regeneration project in partnership with the local authority and the Welsh Government which will create significant job opportunities in a deprived part of the UK. We are currently in consultation with a wide range of stakeholders on our plans to create world class infrastructure and facilities that will allow us to attract and retain high-quality businesses and operate international motor sports events," said Michael Carrick, Chief Executive of The Heads of the Valleys Development Company.

“This exciting project will create new capacity and deliver high-quality automotive infrastructure in the UK whilst providing a major regeneration boost that will bring lasting benefits to the regional and wider Welsh economy.

“A key element in our strategy to develop the automotive cluster was to find the right location and site profile. We believe that we have identified an outstanding site in Ebbw Vale: it is on the boundary of a national park, close to major population centres, and the topography will allow us to create a unique, exciting, safe and stunning environment, which will offer an outstanding experience for competitors and spectators.

“Our discussions to date have been extremely positive, and we welcome the feedback on our proposals. We do hope to finalise our detailed plans during this year and commence work on the development early next year with a view to being operational in 2015.”