Shanghai to Build 5.3-kilometer Formula One Race Track

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Last updated at: (Beijing Time) Friday, July 05, 2002

Shanghai to Build 5.3-kilometer Formula One Race Track

An international-standard 5.3-kilometer Formula One race track will be built in Shanghai, which would make Shanghai the first city on China's mainland to host a Formula One race.

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An international-standard 5.3-kilometer Formula One race track will be built in Shanghai, an economic powerhouse and cultural centre in China.

Consutruction of the project will start later this month, and if everything goes as planned, Shanghai will be able to welcome McLaren and Ferrari racing cars in 2004.

This would make Shanghai the first city on China's mainland to host a Formula One race.

Officials from the Shanghai International Circuit Co, set up earlier this year to oversee the multi-billion-yuan project, said they are "quite optimistic" about the prospect of Shanghai hostingthe most prestigious event in the global racing community.

It has been backed by the municipal government and it has concluded major commercial negotiations with Formula One tycoon Bernie Ecclestone, whose company controls the commercial rights ofthe Formula One Grand Prix, said company sources.

An initial 3.5 billion yuan (422 million US dollars) has been poured into the track's building.

The circuit has been designed by the German firm Tilke Engineering & Architecture.

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