The Circuit of Wales remains confident it will be given the green light and signed-off by the Welsh government this week as critical deadlines loom.

It is a crucial week for the Circuit of Wales, which has faced a number of hurdles since it was first announced in 2013, with a decision set to be made on whether the investment of taxpayers' money is classified as state aid - which is illegal under European Union Law for such a project.

The Welsh Government is estimated to be investing ?32m in the circuit, having already committed ?17m with around ?2m spent on the lengthy planning and public inquiry.

The issue was sparked by legal advice given to Welsh Assembly minister Edwina Hart MP which says the investment is considered state aid and therefore illegal.

Circuit of Wales lawyers maintain the project providing up to 6,000 new jobs in the Blaenau Gwent area, but without Hart signing-off the project could collapse entirely.

It has also been confirmed that Aviva, who is estimated to be putting ?350m into the project, have shown known signs of wavering despite latest speculation after archaeological excavation work began at the Ebbw Vale site.

A decision is being pushed with a deadline of Thursday before the Welsh Assembly will be dissolved ahead of next month's elections.

The Circuit of Wales project is targeting the creation of between 4,000 - 6,000 new jobs over the next ten years through commercial developments, planned business relocations and motorsport-related opportunities.

The venture secured a five-year deal with Dorna which began last year and had originally hoped to move the event to Ebbw Vale in 2017 but after interruptions in confirming financial backing MotoGP has been delayed by 12 months, with the Welsh circuit expected to take over hosting duties in 2018.



Loading Comments...