DECEMBER 29, 2002
A new generation circuit for Europe
If all goes to plan, work will begin shortly on the construction of a state-of-the-art racing facility near Bourg-en-Bresse in eastern France. The planned Euroracing Circuit is close to the Swiss border and within easy reach of the major French cities by motorway. The 2.5-mile racing facility will be built on a 200-acre site at Le Miroir, adjacent to a motorway junction from the new A39, which had boosted development in the region considerably since it was opened in 1998. The $60m project will feature an international spec racing circuit, an industral park, a hotel complex, heliport, driving school and karting facility. The project has the backing of the Magnesium Alloy corporation of Halifax, Nova Scotia, which intends to build a European research centre at the site. Marcel Rigny, the chief executive of Magnesium Alloy has been appointed to head the board of the racing facility.
Magnesium Alloy is currently developing one of the world's largest magnesium salt deposits in the Republic of the Congo in Africa. The aim is to meet the expected boom in demand for magnesium from the automobile industry as the car companies push to produce lighter cars. Industry forecasts indicate that demand for magnesium in the automobile industry will increase enormously in the next 15 years and Magnesium Alloy intends to the first major low-cost supplier of the exotic metal. There seems to be considerable potential in the project but the latest company accounts reveal that Magnesium Alloy is currently not in a position to invest the kind of money needed in the plan - which means that the money must be found from elsewhere.
The new circuit will be officially presented at the Geneva Motor Show in March.
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