UP to £600 million is to be spent on the next stage of the new metro for south east Wales, economy minister Edwina Hart has confirmed.

The Welsh Government is to keep an “open mind” on what the improvements may look like but they are likely to include a mixture of light and heavy rail, trams and faster buses.

Ebbw Vale’s new town railway station, which only just opened in June 11, is likely to see enhancements for “additional services” to be introduced in the future, Ms Hart revealed.

Speaking to Plenary earlier today, the minister revealed the Secretary of State for Transport has pledged £125 million towards the total cost of phase two of the metro, which is expected to reach between £500 and £600 million. The Welsh Government is also bidding for a further £150 million from the European Regional Development Fund to go towards the sum.

The south Wales metro system is currently in the £77 million phase one, which has included the stations at Pye Corner in Newport and Ebbw Vale town centre.

Work on the second phase is expected to begin in 2017, with the whole project due to be finished in around 2030.

In her statement today, Ms Hart said the next phase of the metro system will be overseen by a newly-formed Welsh Government Transport Company which was formally incorporated in April.

It was also revealed Ms Hart has set up a new Strategic Advisory Board to help with the plans, made up of high level industry experts including the Chief Operating Officer at Admiral and the former MD of South West Trains and First Group.

After the announcement of the plans Welsh Liberal Democrat shadow transport minister Eluned Parrott called on the Welsh Government to publish its Metro map adding, "we still don’t know which specific projects will be going ahead".

Plaid Cymru shadow minister for economy and transport Rhun ap Iorwerth said the metro was an "exciting project" but "there is still a long way to go".

Welsh Conservatives shadow minister for business, enterprise and transport William Graham welcomed progress, but stressed the importance of delivery within a designated timescale.

The Federation of Small Businesses (FSB) Wales Policy Unit Chair Janet Jones also said she was glad to see the project moving forward.