SEPTEMBER 23, 2005
Portugal plans new F1 circuit
Portimao, a small town on the Algarve in southern Portugal, is planning to build a Formula 1 standard racing circuit as part of a large technology park development.
Portimao is a popular tourist destination with a good climate and a number of international standard golf courses in addition to beaches and fishing ports but the locals want to add to the glamour of the area and create new growth and a company called Parkalgar is planning a 800-acre racing circuit which is estimated to cost around $150m. The promoters of the idea are hoping that the Portuguese government will help with the project as part of its development plans for the region. The development will include a karting facility, a hotel and apartments and an industrial parkm which will be geared towards attracting car and bike teams to use the facility for testing. The new track will be located close to the coast and about 40 miles from Faro International Airport.
While the idea sounds promising there is no indication at the moment as to how the locals will pay the fees that F1 will be asking for a race each year, although presumably the local authorities will be pushing for the government to foot the bill.
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