Investor deal close for motor raceway

"If these negotiations are successful then we will definitely have the funding to build it," Chris Abbott, a director of MIT (Motor Industry Taupo) Development, said.

"We are just discussing details, and resolution is only a matter of weeks away. It's coming down to the wire."

If the negotiations broke down, the project would be delayed, Mr Abbott said, but if they ended successfully then work could start within weeks.

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