Japanese car maker Toyota has announced an investment - believed to be around £100m - in its Deeside engine plant.
The cash is to build a petrol engine for its new Auris model and will safeguard nearly 200 jobs at the plant.
Assembly Enterprise Minister Andrew Davies described the investment as "a cause for real celebration in Wales".
He said Toyota's investment, which dates back almost 18 years, had been a "significant element in the country's economic success".
Mr Davies was at the firm's main plant at Derby with Chancellor Gordon Brown for the launch of the car makers' new model of car.
He said: "I am pleased that, together with our partners, the Welsh assembly government has supported the development of the company's Deeside engine plant, which plays a crucial role in the company's global operations."
'Innovation and loyalty'
Mr Brown called it "a great announcement for the Welsh economy".
The amount is thought to be around £100m although this has not been confirmed.
Carl Klemm, deputy managing director of Toyota UK, said the company would not reveal the exact figure involved in this latest investment because of "commercial sensibilities".
But he said it would safeguard 200 jobs at the Deeside plant and was also good news for the 500 workers there as they believed other new products would follow the Auris project.
"Hopefully, this engine will last for five to 10 years, depending on how the market changes," Mr Klemm added.
He also paid tribute to the workforce at the Flintshire factory, saying "their commitment, innovation and loyalty to the company is second to none".
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