Diolch, Dirprwy Lywydd. In June 2018, I advised Members that the strategic outline case for a global centre of rail excellence in Wales was approved, together with funding for next-stage project development. I would now like to update Members on the significant progress that has been made to date. I'm pleased to say that a technical briefing session for Members will be held in conference room B at the conclusion of this statement.

In line with the new approach to economic development that our economic action plan sets out, this project takes us in a very new direction. Rather than reacting to the needs of individual businesses, this is a solution to an industry-wide problem. As we have with the Advanced Manufacturing Research Institute and with the Institute for Compound Semiconductors, my aim is to create a facility that will attract the leading lights of the business world and draw them to put down long-lasting and valuable roots here in Wales.   

As with the other examples that I've given, this project was initiated in response to clear industry demand. Indeed, the need for a world-class dynamic testing environment for the rail industry, located in the United Kingdom, has been discussed for at least 15 years, but has unfortunately advanced very little. Our analysis suggests that progress has been delayed for at least three reasons: firstly, a lack of leadership, a lack of availability of a very large and suitably consented site, and thirdly the inherent difficulties and complexity of developing a compelling business case in a multistakeholder environment. 

Our response to these challenges has demonstrated clear and effective leadership, and I am pleased to say that we have made real progress in less than 12 months by developing a credible, deliverable project, de-risking the opportunity, and establishing the foundations for an investable proposition in partnership with industry. There is, of course, though, still much to be done.