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|11-19-2015, 04:03 AM||#1|
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Final planning to begin for the Circuit of Wales
A date for construction to commence is still unknown
THE CIRCUIT of Wales has received permission for final planning to begin before construction work is given the final go-ahead.
The Circuit of Wales project is estimated to be worth around £315m and having signed a contract with Dorna Sports to host the British Grand Prix from 2015 to 2019, it it expected to bring world class motorsport to the venue along with millions of fans each year.
A one million sq. ft. technology park alongside the Blaenau Gwent circuit is also to undergo final planning, but despite this update, it is still uncertain as to when on-site activity is to commence meaning the Circuit of Wales may still not be able to host next year's races.
A statement read: 'Today, the Heads of the Valleys Development Company (HOTVDC) confirmed that the S16 application has been accepted clearing the final planning hurdle for the Circuit of Wales development.
'After an extensive and robust eight-day Public Inquiry, sitting in March 2015, approval by the Deputy Minister for Farming and Food Rebecca Evans AM has permitted land previously designated as ‘common’ to be deregistered into private ownership.
'Throughout the Public Inquiry, Circuit of Wales presented detailed plans for substantial on and offsite mitigation highlighting the suitability of replacement land, which will lead to improved maintenance and ease of access.'
One of the most important features of the Circuit of Wales which is being highly publicised is the 'overall enhancement of nature conservation' which will benefit as a result of the proposal as a whole says Planning Inspector Emyr Jones BSc (Hons) CEng NICE MCMI.
With the approval of the S16 application, HOTVDC can reveal that the required financing package is in place to support the project for the full amount and have an exclusivity contract in place with the financial backers who are in the process of completing due diligence.
Once these have been completed, the supporters of the project will be publicly announced and detailed construction timelines revealed.
Michael Carrick, CEO of HOTVDC concluded: 'We would like to thank local councils, Welsh Assembly Members and the local community who have supported the project throughout the planning process up to this point.
'The Circuit of Wales has the ability to generate thousands of employment opportunities, attract greater long-term investment and deliver regeneration into Blaenau Gwent and South Wales.'
Following the end of the judicial review period, and once construction and finance contracts have been finalised, on-site activity will commence.
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