Would it be OK to place the stock dump valve (03 WRX) where the red ring is in the picture, or is that too close to the turbo?

http://www.bilar.co.uk/dumpvalve.jpg

Reason I want to do this is that it would clean up my engine bay quite a bit and the pipe work back to the inlet would be short and clean looking. Currently my dump valve sits on the fmic pipework down to the right in the picture (behind the engine, so to speak) and the pipe run back to the inlet is rather long, to say the least