DEVELOPERS Morrison will unveil a new name when it officially launches its £75m 2,000-job potential Celtic Springs Business Park in Gwent.

Morrison Developments is now AWG Developments and together with Monmouthshire-based Broadhall is poised to start work on the 42-acre site.

The prestigious site, near Junction 28 of the M4, is opposite the LG Electronics and Hyundai semiconductor buildings.

Celtic Springs, being marketed as CS, will be officially unveiled on Thursday, September 27. Peter Walford, development manager at AWG, predicts that Celtic Springs will become the 'Silicon Valley' of Wales.

Mr Walford said: 'The quality of the architectural designs and the dramatic use of glass and steel will make Celtic Springs feel very different from other business parks, and it is set to be one of the largest and most prestigious office developments in Wales and the South West.'

The Welsh Development Agency and Newport county borough council are also partners in the scheme. WDA estates officer Alan Driscoll says CS has potential to be a workplace for between 1,500 and 2,000 people.

Elizabeth Fathi, director of Chepstow-based Broadhall, says the 60,000 sq ft 'flagship' development on a 3.3 acre site was being built speculatively.

She said the building, with 235 parking spaces, in a parkland setting was expected to attract regional headquarters occupiers.

'CS is alongside the 18-acre Cleppa 4 scheme being developed by Robert Hitchins where it is said 1,200 jobs could be created.