Greece Unlocks Subsidy for Formula One Track in Patras

Posted by keeptalkinggreece in Sports

Greek Ministry of Development unlocked a subsidy of 28.9 million euro for the contruction of a Formula One car racing track in Chalandritsa area of Patras in Western Greece. Total cost of the project is 94.6 million euro and is expected to create more than 500 jobs in a country that suffers from deep recession and high unemployment. In Chalandritsa exists already a circuit.

“Greece unblocked a subsidy of 28.9 million euros ($37.2 million) for the construction of an international-standard racetrack that can be used for staging Formula One car racing, the Ministry of Development said.
The track, which will be designed to host other events as well, including world championship motorbike racing and go-kart racing, will be built in Xalandritsa near the western port city of Patras at a total cost of 94.6 million euros, the Athens- based ministry said in an e-mailed statement late yesterday. Racetrack Patras SA, a private investment company, will oversee the project.” (Bloomberg)

According to radio sport-fm.gr, the funding is to be submitted to the Parliament for approval.

 ”The track will be constructed on F1 race standards even though it will be difficult to host F1 Grand prix due to high costs. However, it will be designed ot host dozens of other races, training for F1 in during winter months due to excellent weather conditions.”

PS Approving a funding for Chalandritsa, does it mean that the project to construct a F1 race track in Piraeus/Drapetsona has been dropped ?. (yahoo.sports, autoweek). Or will Greece have two Formula One tracks? One for training and one for the real Grand Prix?
Local and international media had reported several times that Formula-One “pope” Ben Ecclestone had supported the idea of F1 race in Piraeus.
As my knowledge of F1-tracks is at minimal levels,  I’d appreciate some additional info though.