THE proposed race circuit in Wales has had £150m raised towards the project and proposals are expected to be submitted within the next month.
The Circuit of Wales, set to be built in Ebbw Vale, was revealed in November last year and will include a 3.5 mile track designed to FIM and FIA standards for events such as MotoGP, World Superbike and Touring Cars.
An international kart track, racing academy and motocross track are also included in the plans for the 830-acre site, alongside industrial, commercial and leisure units, a medical centre and a technology park.
Subject to planning permission the building of the £250m venue could begin next year with the circuit complete in 2015.
The planned circuit is expected to boost the Welsh economy by £50m a year in tourism and business investment, with additional hopes that the motorsport facility will bring 9,000 new jobs to the area.
Michael Carrick, Chief Executive of The Heads of the Valleys Development Company, is the Director in charge of delivering the project. He said: "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.”
Professor Garel Rhys, Chairman of the Welsh Automotive Forum, added: “This is an exciting opportunity and will place Wales at the forefront of automotive innovation and sustainable growth - as well as providing the access to an international track capable of hosting world class events.
"The term ‘world class’ is often wrongly used, but this project in all its various aspects - infrastructure, accommodation, events, and research and development - is most certainly worthy of such status. The knock-on effects will be profound and show that Wales can still attract big ticket projects.”
The plans will now be put forward for public consultation, with events for local residents starting at the end of August.
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