A NEW bid for the long-delayed Circuit of Wales project in Ebbw Vale is close to being submitted, Wales’ infrastructure minister has said.

Speaking in the Senedd on Wednesday, December 7, in response to a question on the progress of the £425 million scheme by Torfaen AM Lynne Neagle, Ken Skates said he understood a revised bid for the project, which has twice been turned down by the Welsh Government, was “close”.

The Labour minister added he recognised the “enthusiasm and support” for the project and “share the frustration” over delays.

“But it’s important to realise that this is a privately financed project and the pace is not being driven by government,” he said.

“Nor is it in the control of Welsh Government.

“So, I would like to see a clear decision point by the company as early as possible in the new year.

“I can tell members that over the past few months my officials have been working with the company, meeting with them on a weekly basis, and the company has confirmed that it has everything required of it from Welsh Government.”

South Wales East AM Steffan Lewis also spoke in support of the project, saying he hoped the circuit could eventually host the Formula 1 Grand Prix.

The Plaid Cymru AM said: “It’s a fantastic opportunity to showcase Wales to the world, with the exposure that Formula 1 gets on an international stage, building on the fantastic sporting and global recognition of Wales, especially after the successful summer of sport we’ve had already.”

Mr Skates replied the Circuit of Wales team had confirmed any future bid to host Formula 1 events would not require Welsh Government funding.

“It would be an extraordinarily expensive major event to host, but one that would be pretty unprecedented in terms of automotive sport in Wales,” he said.

Conservative South Wales Central AM David Melding also threw his support behind the scheme and urged Mr Skates to offer as much support to the project team as possible.

“This will be a wonderful project for Blaenau Gwent, Gwent as a whole and all of Wales, because the marketing potential would just be vast,” he said.

“You’ve chosen there a highly popular, innovative sport, really the sort of image we want to project, that Wales is open for new and exciting business.”

Mr Skates replied he agreed the circuit would be valuable not just to the Ebbw Vale area but the whole of Wales.

“We know that when we host major events, such as rugby, such as the Ashes, the focus of the world coming on Cardiff and on Wales is immense,” he said.

“And for an area such as the Valleys it would be incredibly valuable to have a regular raft of major events taking place there, promoting it not just as an attractive place to visit, but an attractive place in which to work and live.”

It is believed the project, which could be complete by 2019, could create around 5,000 jobs.