Statement attributable to a Circuit of Wales spokesperson:
“Heads of the Valleys Development Company notes the comments by the Cabinet Secretary for Economy and Infrastructure, Ken Skates, and welcomes the formal commencement of the due diligence process on the Circuit of Wales, a 100% privately funded development which will have a transformational regeneration effect on Blaenau Gwent and the wider South Wales valleys region.
“The Welsh Government is undertaking a robust and extensive programme of confirmatory diligence and given the seven years of activity, it has taken time to compile all information requested by them and their advisors.
“We wholeheartedly support the Cabinet Secretary’s intent for the Cabinet to make the decision as soon as the diligence is complete and recommendations made. This will allow the company and its delivery team to move forward with the extensive construction, and deliver a project that will bring investment and jobs to the region and provide a dividend to the Welsh Government of approximately £131 million in the 33 years following the end of construction. This decision will provide certainty to both the people of South Wales and the committed international investors, globally recognised development partners, and staff, who have dedicated a great deal of time, their professional reputations, and a significant amount of private investment to enable this remarkable project to be at this point, ready to be delivered.
“We acknowledge the significant efforts by the officials and our respective teams to ensure that our project meets the challenging metrics set out last year and will continue to work with enthusiasm, dedication and effort to deliver this transforming project for Wales.
“We also continue to be available to meet with Welsh Government officials and its advisors and stand ready to do all we can to accelerate any of their work to allow a decision to be made as early as possible.”