Pembrokeshire County Council's cabinet has agreed to pay the Welsh Government £204,970 following the termination of a joint venture scheme.

In 2002 the council entered into two joint venture agreements with the Welsh Government , this involved the purchase of two plots of land, one at the Cleddau Bridge and one at Withybush.

The Cleddau Bridge site is now known as the Pembrokeshire Science and Technology Park and comprises 20 hectares, over half of this is still undeveloped.

The 20.38 hectare Withybush site includes the Withybush Business Park and part of Withybush East Industrial Estate.

Cabinet members heard that the Welsh Government is actively looking to terminate joint venture agreements.

After a thorough review by both parties it has been agreed that the council owes the Welsh Government £503, 672 aqt the Cleddau Bridge site. However the Welsh Government owes the council £298,702 at the Withybush site; resulting in a final balance of £204, 970 being owed to the Welsh Government by the Council.

Councillor Keith Lewis said that the council could either pay the balance or settle the debt by a land swap.

Director of Development Dr Steven Jones advised councillors that with current land values it would be more beneficial to the council to pay off the balance and hold onto the land.

"We would be better off holding onto the land at Withybush for the foreseeable future," he said. "There is some interest in those sites and we should be reasonably confident that we will have development on that site."

Cabinet members voted unanimously to terminate the joint venture scheme with the Welsh Government by means of a £204,970 payment.