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| Circuit of Wales race track given go ahead at Ebbw Vale | |
| (35 minutes later) | |
| Plans for a £280m race track near Ebbw Vale have been given the go ahead despite environmental issues and claims it may become a "white elephant". | |
| Developers say about 1,500 direct and indirect jobs, and 500 construction jobs would be created by the project near Rassau Industrial estate. | |
| Blaenau Gwent councillors gave the Circuit of Wales unanimous approval on Wednesday. | |
| But Welsh government inspectors could still have final say on the plans. | |
| Before the meeting, the Association of Motor Racing Circuit Owners (AMRCO) said the track would harm motorsport. | |
| The Circuit of Wales said it was no surprise the project was seen as a threat. | The Circuit of Wales said it was no surprise the project was seen as a threat. |
| The developers want to make the track capable of hosting motor racing championships - except Formula One - with the most high-profile event a Moto GP race involving the world's top motorbike teams. | The developers want to make the track capable of hosting motor racing championships - except Formula One - with the most high-profile event a Moto GP race involving the world's top motorbike teams. |
| Despite some environmental concerns, the scheme occupying 335 hectares (830 acres) was recommended for approval by council officials before councillors gave it their backing unanimously. | |
| But Jonathan Palmer, chairman of AMRCO which represents 17 UK race tracks, said: "The UK circuit industry welcomes innovation and investment, however history and experience suggest that an investment of this magnitude in a motor racing circuit will never produce a return for investors. | But Jonathan Palmer, chairman of AMRCO which represents 17 UK race tracks, said: "The UK circuit industry welcomes innovation and investment, however history and experience suggest that an investment of this magnitude in a motor racing circuit will never produce a return for investors. |
| "It is a real concern that this will turn into a white elephant at the expense of much needed public funds, and we hope this project will now be subject to careful scrutiny by Welsh government inspectors and the Wales Audit Office." | "It is a real concern that this will turn into a white elephant at the expense of much needed public funds, and we hope this project will now be subject to careful scrutiny by Welsh government inspectors and the Wales Audit Office." |
| Industrial development | Industrial development |
| Gwent Wildlife Trust, Brecon Beacons National Park, and Natural Resources Wales have all objected to the plan. | Gwent Wildlife Trust, Brecon Beacons National Park, and Natural Resources Wales have all objected to the plan. |
| A spokesman for the Circuit of Wales said: "We agree with Mr Palmer that new investment is welcome. | A spokesman for the Circuit of Wales said: "We agree with Mr Palmer that new investment is welcome. |
| "Our investment programme is geared around a range of motorsport activity and large scale industrial development including the commercial exploitation of significant development land. | "Our investment programme is geared around a range of motorsport activity and large scale industrial development including the commercial exploitation of significant development land. |
| "It's no surprise that we are seen as a competitive threat to many of the existing sites that we have in the UK. | "It's no surprise that we are seen as a competitive threat to many of the existing sites that we have in the UK. |
| "Over the course of the last three years we have met with senior management of 11 of the 17 circuit owners, many of whom have input into our business plan and several operators who have expressed interest in providing services to the circuit. | "Over the course of the last three years we have met with senior management of 11 of the 17 circuit owners, many of whom have input into our business plan and several operators who have expressed interest in providing services to the circuit. |
| "We have former CEOs of existing facilities on our advisory board and validating all of our assumptions. This has made our plans more robust. | "We have former CEOs of existing facilities on our advisory board and validating all of our assumptions. This has made our plans more robust. |
| "We have been engaging regularly and have the support of the industry governing bodies and a wide range of commercial rights holders." | "We have been engaging regularly and have the support of the industry governing bodies and a wide range of commercial rights holders." |
| A £2m loan from the Welsh government has been made and the developers are trying to secure more public money. | |
| The rest of the money is being borrowed from banks with the intention to raise £150m from institutional investors such as pension funds which would become part owners of the track. | |
| Welsh government inspectors are still considering whether to review the project. |