Lake Torrent, a 57-acre site formerly known as the 'clay pits', is to become a venue for regional, national and international competitions, aiming to host events such as the World Super Bike Championships and British Touring Car Championship.
The track is expected to be a 3.59km circuit, offering 12 turns and a mix of technical and high speed sequences, with associated pit garages, spectator gallery, hospitality facilities and new access and public link roads.
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Meanwhile, the council also approved planning permission for two new car showrooms to be built in Dungannon. The new Jaguar and Landrover showrooms for Donnelly Brothers has become one of only two new local franchises for the group.
Chair of the Planning Committee, Councillor Cáthal Mallaghan, said: "This represents a significant investment in motor sport and the motor trade in the Mid Ulster area.
"Lake Torrent is a hugely impressive and ambitious proposal which will transform a substantial and unused area of depleted clay pits into a world-class motorsport centre. The proposal represents an initial £29m investment which will create 500 jobs during construction, and 40 full-time positions on an ongoing basis.
"It is anticipated there will be over 500 posts on race days which will provide a significant boost to the local economy of Coalisland, and also be a substantial driver for increasing the number of visitors coming to Mid Ulster.
"Landrover is the foundation of the Donnelly Group and this £6m investment will bring Jaguar cars to Mid Ulster, securing existing jobs in Dungannon and doubling the workforce for the brand."
(CD/JP)
