A £300 million masterplan for the regeneration of a former steelworks site has been given the go ahead.

Ebbw Vale councillors approved outline planning for the redevelopment of the former Corus steelworks site heralding it as a "significant" and "far-reaching" project.

Over the next ten years more than 700 homes, shops, a hospital, learning campus, theatre, leisure centre, school and station are set to be built.

Work on preparing the land for the first phase of the project, which includes the hospital and learning campus, is due to start in the Autumn.

Some 2,000 people are expected to be employed during the development works.

Councillor John Hopkins, leader of Blaenau Gwent council, said: "The approval opens the door to the development becoming a reality.

"Investors and funding bodies will be able to look with confidence on the project, and we will be able to continue to drive forward the regeneration of Blaenau Gwent"

Ieuan Wyn Jones, minister for the economy and transport, added: "The works has been designed to revitalise and regenerate this area and will be a catalyst for change."

Earlier this month it was the fifth anniversary of the closure of the steelworks with the loss of 800 jobs.

A masterplan was drawn up to regenerate but the scheme remains almost two years behind schedule.

Last year Cardiff-based Edmund Nuttall won a 9.5 million tender to clear the site. The work is due to be finished early next year.

Blaenau Gwent council says delays in acquiring the site are responsible for the setback. But it says it is the only heavy industrial site of its size to have been brought forward for development in such a short timescale.

Project manager at the site, Richard Cook says the regeneration should be completed in 2017- five years later than the original completion time.

benjamin.payne@gwent-wales.co.uk