The agreement signed in March with the Cardiff Capital Region (CCR) is due to go ahead, despite the current uncertainty surrounding Brexit.
The deal, worth of £1.2 billion, has been questioned since the referendum result, as part of the agreement includes a £106 million fund from the European Union.
However, Alun Cairns, Secretary of State for Wales, has confirmed that the deal still retains the green light after meeting with the leaders of the CCR.