Lol 6000 NEW jobs, ie no real jobs, lost This will be the most heavily marshalled track on the planet
Looks like the project will collapse within the next 48 hours. Why should a government underwrite a privately funded project? Minister cannot underwrite £357m Circuit of Wales track - BBC News
Not sure it is anything to do with govt or Welsh assembly, more that a dream was sold, someone has made some cash, cant raise the rest and can now go live in Panama with the rest Real shame, real modern life
yip. a few bob made on consultancy and architect fees. pity. sure something could of been made of it. not that i could ever be accused of blind enthusiasm. :Angelic::smileys:
Statement on today's news The Circuit of Wales is a significant mixed-industry development with the potential to deliver widespread regeneration benefits to the South Wales region. Many observers near to the site will have noted that the pre-enablement works and ecology activity has already commenced and we have a range of contractors engaged on creating sustainable employment opportunities in this challenged area. We respect and understand the Ministers decision on the support for a 100% guarantee for our private funding. While this was our clear preference and reflective of the negotiations we have held over the past six months, we accept that the project will need to progress on revised terms. We will continue negotiations with the Welsh Government, the local authorities and Aviva Investors to advance the development on revised terms that will be acceptable to all parties. – MICHAEL CARRICK, CEO, HEADS OF THE VALLEYS DEVELOPMENT COMPANY
The very fact that it appears Aviva were insisting on 100% government underwriting says to me the knew the developers don't have the means to repay the money.
And even if this had a slight chance of happening (and I stress it was slight) this will be dead in the water now.
Going to go out on a limb here and say it will be the last of the investment any other part of the country will see barring London and the home counties too - just like the Thatcher years. At least when we were in the EU it was spread out a lot more. Bring on the dark ages i say .
Your announcements that it the CoW is "to go ahead" and "It's happening" were a bit premature, @redsail. And by premature I mean utter bollocks.
That's Pete for you. About as much tact as a smack in the face and all dressed up with 'but I'm in law so it's OK that I'm direct'.
