Circuit of Wales developers hope to finalise deal within two months

7th April 2016 SWVaux

Circuit of Wales developers hope to finalise a deal for the project in the next two months.

After a day of talks between politicians, developers and financers, it looks like there is still hope for the £350 million racetrack which hopes to bring 6,000 jobs to Blaenau Gwent.

In a statement released this afternoon, Michael Carrick, CEO of the Heads of the Valleys Development Company said: “The Circuit of Wales is committed to the regeneration of Blaenau Gwent through the building of a leading automotive and leisure destination in South Wales.

“We are developing financing arrangements with Aviva Investors and Public Sector Wales and have put forward two alternative options with revised commercial terms.

“These alternative arrangements will reflect a more balanced financial support package for both the public and private investment parties.

“We are working closely with all parties involved, including the local community and councils to conclude the deal over the next six to eight weeks”.

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