The circuit of Wales has received outline planning permission from Blaenau Gwent County Borough Council following a council meeting today. The project team will now commence work on the detailed planning application.
The new circuit which has aspirations to host MotoGP, WSB and BSB on its 3.5 mile track at the 830 acre site at Blaenau Gwent. It promises to not only bring world class racing to Wales but also rejuvenate the area in terms of job creation, tourism, research and development.
It is estimated that the project will bring £50m worth of revenue into the Blaenau Gwent, attract 750,000 visitors a year, and provide more than 3,000 jobs in construction and post development.
CEO of the Circuit of Wales Michael Carrick, said: "We are excited, it's not often that you get a unanimous decision. Now there is a lot of work to happen now. This decision has given us the confidence to move forward to a detailed design stage.
"We will fully detail the design over the next six months with a view to start construction in the back end of this year through to next year, and open it by the back end of 2015 ready for the 2016 Motorsport season."