THE company converting a former factory into a £12 millon state of the art high-tech further education facility in Ebbw Vale has gone bust.

Last week it was announced that the ISG group of companies had entered administration and that their UK operation had stopped with “immediate effect.”

This puts thousands of construction industry jobs at risk at the firm which builds prisons and police stations as well as schools.

Blaenau Gwent County Borough Council has confirmed that the HiVE (High Value Engineering Centre) is also the victim of the collapse of ISG.

A spokeswoman for Blaenau Gwent said: “Both contracts have been terminated and the sites are in the ownership of the council and made secure.

“ISG were contracted to deliver the new HiVE facility in Ebbw Vale and the new Welsh Medium seedling school in Tredegar.

“As a result of these unforeseen circumstances which were beyond our control, there is a high likelihood that the expected completion dates of these projects will be affected.

“We can confirm that we are working with Welsh Government and all other key partners to ensure both projects will continue to be delivered.

“We will be able to provide further information in due course.”

Work on the HiVE which is at the site of the former Monwel Hankinson factory, Ebbw Vale, started a year ago.

The new 21,808 square foot facility is supposed to provide state-of-the art training and education for young people and businesses in the fields of robotics, advanced materials, and manufacturing, and digital and enabling technologies.

In partnership with Coleg Gwent, and industry partners, the council secured over £12 million from the Welsh Government’s Tech Valleys programme and the UK Government Levelling Up Fund to bring the redundant factory building back into use and create the HiVE facility.

Students were meant to to access HiVE from Autumn 2024.

Coleg Gwent Vice Principal Nicola Gamlin said at the time: “As the demand for STEM knowledge and skills continues to increase in the local economy, Coleg Gwent's goal is to educate future workers in a specialised facility, surrounded by innovative technology that reflects industry practices. Our ambition is to equip learners with the necessary tools to meet the demands of the workforce of the future.”