Wales launches £250m motor racing PPP
16 August 2012
A massive new low carbon automotive complex is to be developed through a PPP in south Wales.
Plans for a world class, 3.5-mile circuit designed to host top motor sport events have been put forward by the Heads of the Valleys Development Company.The £250m development will span a total of 830 acres and will be located on a site near Ebbw Vale in Blaenau Gwent.
Alongside the motor circuit, the planned PPP will include over £150m of investment in a range of commercial, industrial and leisure facilities, with a focus on growing engineering and green transport businesses.
Law firm Stephenson Harwood has been appointed to provide legal advice to the Heads of the Valleys Development Company.
“In many ways, the project brings together a variety of techniques used in PPP over the years to create a new hybrid model that will leverage investment and promote economic growth,” said Stephenson Harwood partner Jonathan Cripps.
For more information on the project, click here.
