– A major blow has been dealt to the Circuit of Wales project after the Welsh Government turned down a request for more than £200 million in public funding guarantees.Circuit of Wales officials, following several setbacks, submitted a fresh financial proposal to the Welsh Government earlier this year, with an extensive period of due diligence undertaken.But on Tuesday, Ken Skates, Cabinet Secretary for Economy and Infrastructure, released a written statement confirming that the government had rejected the plea."In February 2017, Circuit of Wales Ltd submitted its new proposal to Welsh Government, which was followed by a formal application in April 2017 requesting that we enter...
Full Story »