The jobs created will be in the hi-tech sector

It is understood the Welsh Development Agency (WDA) will announce the arrival of at least six companies initially, with more to follow later.

BBC Wales' Business Editor Gareth Jones understands that the "diverse" jobs are in growth areas like biotechnology, software development and the mobile telephone industry.

Many of the companies arriving are from India, and see Wales as a gateway to Europe.

The WDA is believed to be keen on bringing smaller companies to Wales after the dramatic failure of electronics giant LG Philips to bring thousands of jobs to Newport.

We are moving now from the big manufacturers to these small niche players Brian Morgan, former chief WDA economist

The closure of the LG Philips factory last month, with the loss of 870 jobs, was the final chapter in a story which began with grants of �220m and promises of 6,000 jobs.

Brian Morgan, former chief economist at the WDA, said the new wave of companies would boost the hi-tech sector in Wales.

"These firms that are coming in will be competing with firms we have already got here - it will be very helpful to bring in some new blood," he said.

"We used to be looking for the huge inward investors like LG, Sony Mitsubishi - we are moving now from the big manufacturers to these small niche players producing software to integrate data.

"What we need to attract these companies is good local suppliers, good quality components, good skilled workforce - those things haven't changed."

Software conference

Mr Morgan added the new firms would be looking to employ a high calibre of staff.

"These smaller companies are involved in developing new technologies - they are going to be looking for small numbers of highly-qualified people.

"These are not huge manufacturing plants where you talk about hi-tech but actually lots of the jobs are on the shop floor."

Under the new project, one scheme will set up at the Tredomen Business Park in Ystrad Mynach.

It is understood the deals were secured following Welsh representations at a major software conference in India in February.

The WDA would not confirm details but said an announcement was due.