The richest man in Britain is 'close to deal' that will create hundreds of car manufacturing jobs in Bridgend.
Billionaire Sir Jim Ratcliffe is in advanced talks to build thousands of cars and potentially create hundreds of jobs in Bridgend, according to reports.
Ineos Automotive, which is owned by Sir Jim has been in discussions to build its new 4x4 vehicle in south Wales for time.
Production is expected to take place at a plant next to the Ford factory in the town, which is set to close in 2020.
If Ineos does set up in Bridgend, it will provide a huge boost for an area which is set to lose 1,700 jobs when the Ford plant closes next autumn.
The new project - called Projekt Grenadier - will see thousands of new 4x4 style vehicles being built from 2021 in a new venture for the Ineos group, who made headlines earlier this year when they took over the Team Sky cycling stable.
A spokesperson for Ineos said: "Jim (Ratcliffe) is a long-term admirer of the original Land Rover Defender, and knows the true value of a go anywhere 4×4.
“When Jaguar Land Rover announced it was going to cease production of the Defender in 2016, it left a gap in the market for an uncompromising off-roader, which Jim decided Ineos could fill - thus Projekt Grenadier was born.”
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Sir Jim is the richest man in the 海角视频 according to last year’s Sunday Times Rich List.
The Welsh Government has not confirmed that any deal to bring the multi-million pound project to Bridgend is imminent, with a spokesman saying: "We continue to work closely and constructively with Ineos and others to secure a future for the Bridgend site.’
However, economy minister Ken Skates revealed last week that talks between the Welsh Government and Ineos Automotive are “very advanced”.
Speaking on Radio Wales, Mr Skates said he was “very excited about the possibility of attracting new automotive manufacturers to Bridgend” but declined to expand further as talks were ongoing.
Ineos Automotive is part of the Ineos group, which was founded by Sir Jim Ratcliffe more than 20 years ago and is one of the world's largest chemical producers.
Last year the company, which is based in London, published profits of more than £2bn.
In nearby St Athan Aston Martin is about to begin full production and about to undergo a large recruitment drive.
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The luxury car maker will start by making its first SUV, the DBX, at the Vale of Glamorgan factory, but will then add the manufacturing of Rapide E and Lagonda brands to the marque's output at the Vale of Glamorgan site.
It is expected that by 2021, when the two new vehicles will be in full production, there will be 1,000 workers at the factory. Initially it was thought the company would directly employ 750, with a likely further 3,000 across the supply chain and local businesses in Wales.