Part of 2. 1. Questions to the First Minister – in the Senedd at 1:55 pm on 6 June 2017.
And it’s also important to note that there is no request for any public money to be invested in this project upfront, and that all that is being sought is a guarantee, which is a commercial guarantee that the Government would pay to finance, which will be called only as and when all the construction on the site is completed, so there will be physical assets against which the loan can be secured. And, on an annual basis, the maximum risk to the Welsh Government is said to be £8.5 million to £9 million a year many, many years in the future for a limited period of time. So, the risk is secured on 100 per cent of the assets, but the guarantee is going to apply to less than half of the value of those assets. So, on the face of it, this does look a very good deal, and, whilst I appreciate we have to go through the due diligence process, it is, I think, of vital importance to the economic prosperity not just of south-east Wales but the whole of south Wales that this project does get the go-ahead.