An attempt to bring TVR sports cars to Wales ended in failure and a bill of £14M, according to official documents released today. Legendary two-seater high performance TVRs were to be built at Rassau Industrial Estate after the manufacturer was bought by a business from the previous owners who saw it collapse in its native Blackpool plant. Originally, the TVR factory was to be the centrepiece of … [Read more...]
Transport for Wales spending going off the rails
Transport for Wales has spent £14.2M on 40 consultants over two years at it rolls out its Metro project, but only six firms were registered in Wales, according to an investigation by Welsh Conservatives. The two-year spending spree included HR advice, management and IT assistance and the Tories say the initial £5 billion project is spiralling out of control and overdue. Commenting on the … [Read more...]
Newslines 6 April
Welsh government is very unlikely to see £7.35m it spent on an ill-fated Circuit of Wales racetrack project, it has told the BBC. Officials say there is "little chance" of getting it back from the insolvent company behind the £433M Circuit of Wales after the project fell apart in 2017 when the Welsh government rejected a request to guarantee almost half its funding after it discovered there were … [Read more...]
Automotive business ponders new site in Ebbw Vale
The Welsh Government is investing £8.5 million in new industrial space in Blaenau Gwent aimed at attracting businesses to the area, Economy Minister Vaughan Gething has announced. A 50,000 sq ft industrial unit will be built at Rhyd y Blew, Ebbw Vale, in the Tech Valleys area. The modern building will form the first phase of a wider site masterplan, and help satisfy huge demand for such … [Read more...]
Circuit of Wales plan on track again
A new attempt to create the Circuit of Wales is underway, writes Robin Roberts. The controversial £433M scheme on mountainside overlooking Ebbw Vale was rejected for Welsh Government assistance in June 2017. The original proposers of the 2013 venture failed to secure the confidence of the Welsh Government which had put £9M into studies to turn over 800 acres of mountain moorland into a … [Read more...]
Circuit of Wales was a car crash for Welsh Government
Senior civil servants in Wales have been criticised by the Welsh Public Accounts Committee over their botched handling of financial affairs surrounding the failed £433M Circuit of Wales. The committee said the officials made "inexplicable decisions" about the spending and authorised £9M initial investment, but it’s unlikely to see £7.3M returned as the developers have taken legal steps to … [Read more...]
CoW promoters lose MotorGP & British GP contract
The Circuit of Wales promoters have been stripped of their right to run the British Motorcycle Grand Prix. The backers ten-year deal signed three years ago is now void because they have not met contractual obligations, Motorcycle News reported today. This month’s two-wheeler British GP will now be run by title holders Dorna and Silverstone Circuit. In future, the BRDC owned circuit which … [Read more...]
Talks underway to create auto-tech park in Wales
The Welsh Government’s £100m Automotive Technology Park in Blaenau Gwent moved a step closer as key players gathered to discuss plans. Economy Secretary, Ken Skates, chaired a meeting with industry figures from TVR, Ford, General Dynamics and IQE as well as representatives of Ebbw Vale Enterprise Zone, Blaenau Gwent Council and Cardiff University, in order to develop more detailed proposals … [Read more...]
Meeting discusses £100m technology park
Wales Economy Secretary, Ken Skates and Lifelong Learning Minister, Alun Davies visited Blaenau Gwent yesterday to discuss plans for the new Welsh Government funded £100m technology park. Following last week’s announcement, the Economy Secretary and the Lifelong Learning Minister, who Chairs the Valleys Taskforce, met representatives of Blaenau Gwent Council and the Chair of the Ebbw Vale … [Read more...]
Due diligence call for Ebbw Vale Automotive Zone
Days after rejecting support for the Circuit of Wales development, Welsh Government has called for “innovation and entrepreneurship”. Economy Secretary, Ken Skates launched BeTheSpark, a Wales-wide movement aimed at unlocking the potential for greater collaboration between entrepreneurs, corporate leaders, risk capital, academia and government to support the creation of more home grown … [Read more...]
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