The Welsh site chosen to build the next 200mph TVR series will be announced in two or three weeks, it was stated yesterday. The un-named car was first announced in 2015 and it soon attracted over 350 deposits from TVR enthusiasts. Originally, it was to be a centre-piece manufacturing site on the Circuit of Wales development but that has hit planning … [Read more...]
Welsh Government yellow flag for Circuit of Wales
A decision on Welsh Government underwriting half the cost of the Circuit of Wales racetrack faces yet another delay as ministers accused developers of providing "inaccurate" information. The company behind it has asked for a £210m taxpayer-funded guarantee, about half the cost of the scheme after getting over £9 M initial project costs, and said it had … [Read more...]
Censure over Circuit of Wales spending
Wales Audit Office said there were "significant shortcomings" in the way £9.3 Million of taxpayers' money was spent on plans for Circuit of Wales at Ebbw Vale. Funding was based on a "flawed" appraisal by Welsh Government said the public finance watchdog. Welsh Government said it was “disappointed” by the report as it considers whether to underwrite … [Read more...]
Circuit of Wales two weeks’ deadline
Circuit of Wales has been given two weeks to declare its major backers and show a revised business plan to Welsh Government. Economy Secretary Ken Skates yesterday told Welsh Assembly Members that the Heads of the Valleys Development Company should speed up the scheme overlooking Ebbw Vale. He said there was concern at the long delays in reaching … [Read more...]
Circuit of Wales to have world’s biggest Extreme centre
Extreme Sports Company has confirmed it will open the world’s largest action centre at the proposed Circuit of Wales site near Ebbw Vale. While Welsh Government has yet to decide if it will back the Circuit of Wales motor sports complex, Extreme chairman and ceo Alistair Gosling, Chairman and Chief Executive of Extreme, said they have a master-plan in … [Read more...]
Circuit of Wales moves closer to reality
The Circuit of Wales development is moving a step closer to reality. WheelsWithinWales understands promoters of the £370m project at Ebbw Vales have now raised additional private capital for the scheme which should meet Welsh Government requirements. Two previous bids for Welsh Government support to fund part of the project were rejected as falling … [Read more...]
Lights go on for Circuit of Wales
The future of the proposed £375 Million Circuit of Wales will probably be decided tomorrow. The Welsh Government is expected to announce if it will underwrite a substantial part of the project it said in April it couldn’t support in its entirety. Then it left the door adjar for further talks over revised funding and the developers put a new package … [Read more...]
Circuit of Wales is stuck in gear
The multi-million pound plan to create Circuit of Wales has stalled. Developers of the £357 Million 800-acres motor sport complex above Ebbw Vale have failed to get Welsh Government to underwrite the project and its future is now in great doubt unless it can be refinanced, but talks are continuing to try and rescue the deal. Welsh Government Economy … [Read more...]
TVR will train engineers of tomorrow in Wales
TVR will be offering engineering apprenticeships when it starts building its new 170mph sports car in Wales. The carmaker’s operations director John Chasey said they would start building cars in the last quarter of 2017 with delivery beginning in 2018, and they intended to create apprenticeships among the 150 local people they planned to employ. TVR … [Read more...]
