Developers hope to begin preparation work before the end of the year on the Circuit of Wales near Ebbw Vale.
Developer Michael Carrick has been in South Wales meeting potential investors and representatives of potential employees and has told BBC Wales that all the finance needed for the £300M project has been pledged. He hopes the circuit will host MotoGP after 2017 and it will create 6,000 jobs.
His confidence comes a week after the Welsh Government said it had no objections to the plans if they adequately protected the rights of access to common land in the area.
Mr Carrick, chief executive of the Heads of the Valleys Development Company, told BBC Wales that now the £300m project has been given the green light by the government he is “actively reaching agreements” with organisations who have said they are interested in investing.
He said he has all money needed from the private sector pledged but now needs formal agreements with all those bodies.
Circuit of Wales has had initial public money too – £2m from the Welsh government – and Mr Carrick says he has now been promised another £18m. A Welsh Government spokesman said it had not agreed to the extra money at this stage. Further funding will be sought from the UK Government under plans announced over a year ago by the developers.
Mr Carrick said he expects to have all the finance signed and sealed by the end of this year when they will start work on the site.
