THE academic who carried out a feasibility study into the production of a new supercar says a number of sites in Gwent are being examined as potential manufacturing bases.

Yesterday, we reported that Oakdale Business Park is currently the front runner in a number of sites across South Wales being considered for the production of the world's most expensive car, called Project Zircon.

If the project gets the go-ahead and reaches its aim of producing between 400 and 500 cars a year it could create 700 jobs.

Professor Garel Rhys, director of the Centre for Automotive Industry Research at Cardiff University's business school, carried out a feasibility study on the project.

He told the Argus there were about five sites in the frame for the venture, including a number in Gwent.

He said: "They are well located to bring material in and a major part of this project is actually bringing in customers to look at the car."

He said the final location would depend on the timescale of the project. "I don't think anything will be known about the financing until well into the spring and until the financing is in place nothing else will happen."

Prof Rhys believes that if all goes well the first car could be unveiled about four years from now.

He said: "That is pretty quick in the motor industry but it is still some time away and these sites could easily be snapped up someone else."

Professor Rhys said there had been many similar projects mooted but believed the consortium behind this one had a good chance of succeeding.

"Many have failed but if this one is well funded it has a chance of winning. They have done their homework."

The car would come with a price tag of at least £285,000. "It is to be the most expensive mainstream car in the world. The price will be part of the selling point," said Professor Rhys.