will need to work closely with other established organisations such as the Development Bank of Wales, Business Wales and Transport for Wales as it begins to develop a view on Wales' future infrastructure needs.
The extension will enable Mr Lloyd Jones to oversee the production of the NICWs first Annual Report.
I look forward to receiving the NICWs first annual report in November.
Earlier this month Plaid Cymru set out its plans for NICW
, with Shadow Cabinet Minister for Finance and Economy Adam Price saying it could borrow as much as PS7.5bn over 10 years to help finance projects.
Plaid Cymru is proposing that NICW should be able to raise PS7.5bn over 10 years to finance its programme of development.
NICW would seek to arrange funding from a variety of bodies, including the Green Investment Bank, Infrastructure UK, local authorities, pension funds and other institutional investors.
By launching a National Infrastructure Commission (NICW
) - the largest capital investment project since devolution - we will transform the nation's roads, railways, schools, hospitals and homes.
"NICW's main aims would be to enable the Welsh Government to use part of its current expenditure for funding capital investment in an effi-cient manner.
He added: "Any profits retained in NICW would be used to improve its balance sheet and to invest in further public sector infrastructure projects.
Mr ap Iorwerth also announced that a Plaid Cymru government will embark upon the biggest programme for reconstruction Wales has seen since devolution, led by a newly-established National Infrastructure Commission Wales (NICW).
The NICW will be a new independent public corporation that will plan, fund and deliver the aspirations set out in the National Infrastructure Investment Plan.
I start off in a small room with Sali Mali, Y Pry Bach Tew and Nicw