It has also agreed to vary the terms of the Llanelli Coast Joint Venture agreement with Carmarthenshire County Council to formally include the proposed development, subject to an agreed business plan.
The proposed multi-million pound development earmarked for Delta Lakes is being led by Carmarthenshire Council. It forms part of the wider regional collaboration for health initiative being taken forward by Abertawe Bro Morgannwg and Hywel Dda Health Boards and Swansea University.
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Cabinet Secretary for Economy and Infrastructure Economy Ken Skates said: "The Wellness and Life Science Village is an innovative proposal with the potential to make an impact on the health and well being of residents. It is also designed to boost the region’s economy and skills base in a sustainable way while supporting the regeneration of the area. I am pleased to announce funding for a masterplan and associated business case to take the project forward."
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