The Welsh Government have admitted that there is ‘still some work to be done’ on the proposed Circuit of Wales, before construction can go ahead at the site in Ebbw Vale.
Back in November the Heads of the Valleys Development Company (HOTVDC) confirmed that their final planning hurdle at the track had been cleared, and development can now go ahead, but First Minister, Carwyn Jones said that the government in Wales and the HOTVDC still have to carry out ‘due diilgence’ before further building plans can start.
The Circuit of Wales are hopeful that 6,000 jobs will be created through companies, hotels and racing academies being based there. Not only that, but the circuit has been granted hosting rights by Dorna for MotoGP in the UK for the next five years with the option for an additional five years, but the British GP will return to Silverstone once again this season.
It has been reported in the media that the Welsh Government has been asked for around £30m in a mix of loans, and Jones says the government are continuing to work with the Circuit of Wales and are still supporting the project - but believes things will take time, especially when there is a lot of money involved.
“With regard to the Circuit of Wales we are keen to see the Circuit of Wales proceed. There’s still some work to be done. There is a lot of money at stake here and we need to make sure that we carry out what in business terms is called ‘due diligence’ because there are tax payers money involved,” said First Minister, Carwyn Jones, speaking on BBC Radio Wales.
“From our point of view we are keen to support it - it is not our decision [if the circuit goes ahead or not] it is a decision for the Circuit of Wales. We are working with them and there are some issues that still need to be worked through. When there is a lot of money on the table the tax payer would expect us to do just that.”
There is still no definite date for when construction will begin at the site of the proposed £315m circuit.
Sportscar manufacturer TVR announced today it will be moving production to the site. A new plant will create 150 jobs on the Ebbw Vale enterprise zone. New owners, who bought the brand three years ago, will start production next year. The company has a 10-year plan, including four new models, and will begin making a few hundred cars a year.