Circuit of Wales developers are on the “brink of sealing a deal” after a new financial proposal was put in to the Welsh Government.
On Saturday it was revealed the Welsh Government had received a revised funding proposal for the £357.2 million project after a deal fell through last month.

Ministers refused to sign off a “risky” financial package which would see the Welsh Government underwrite the total cost.

But yesterday Alun Davies, the Labour assembly candidate for Blaenau Gwent, said he had seen the submitted proposal.

He said: I’m encouraged by the positive negotiations that have been taking place between officials and the developers.

We are on the brink of sealing this deal for Blaenau Gwent and we need a Labour government in place after Thursday to ensure this proposal becomes a reality.

I am committed to the circuit, the First Minister is committed to the circuit and we want to deliver it.

We have all come too far to let such a game-changing proposal be side-lined under a new government.”

A spokesman for the Circuit of Wales team said: We are delighted with the political support for this project as politicians recognise the opportunities and investment the circuit will bring.

Alun Davies has been 100% behind us and understands the need for the Welsh Government to deliver this major infrastructure project for Blaenau Gwent and Wales.

Once the election is over people will expect the government to deliver.