Circuit of Wales: Merchant bank joins project team

A private banking firm has joined the team behind the £375m Circuit of Wales project at Ebbw Vale.

City of London-based Kleinwort Benson works internationally, putting in place funding for large development projects.

Nigel Spray, managing director of private merchant banking, said it would bring in £100m "as the last piece" of private funding for the project.

A sticking point for the project so far has been the Welsh Government being asked to be guarantor.

On a visit to the Senedd, Mr Spray told BBC Wales economics correspondent Sarah Dickins that part of the bank's role was to help Circuit of Wales bring in more investors.