The statement added that a contractual agreement with the construction
partners would ensure that a “significant number” of building jobs would go
to local workers.
“This could prove to be a much-needed boost in south Wales where unemployment
levels are high,” it said.
The touted figure of £250 million would likely be the largest lump sum ever
spent on a racing circuit in the UK.
“As well as the main circuit there are plans for international kart and
motocross tracks, a technology park and a race academy “to develop young
Welsh, British and European elite riders and drivers.”
An application for planning is due to be delivered later this month.
Meanwhile, Nico Hülkenberg’s move from Force
India to Sauber
for 2013, to replace the McLaren-bound
Sergio Pérez, was confirmed on Wednesday.
The 25 year-old has been involved in a tense battle all season with his Force
India team-mate Paul di Resta, with both drivers mentioned in connection
with vacant seats at McLaren and Ferrari
before they were filled.
It will be Hülkenberg’s third team in as many seasons after he switched from Williams
to Force India at the end of 2011.
“[Sauber] is a well-placed team and very competitive,” the German said.
“Plus it’s a team in which young drivers have repeatedly delivered exceptional
performances. I would like to take up that baton.”