A South African company has unveiled plans to build a Grand Prix race track in Cape Town in a bid to bring Formula One (F1) back to the country after almost 15 years. The R1 billion proposal, put forward by South African Grand Prix (Pty) Ltd, involves building a 5.7 km circuit and a 17,500 seat grandstand on a 58 hectare plot adjacent to the international airport. However, the land needed for the project has not yet been released.
The project, to be financed by private international sponsors, reportedly has the backing of the national government and at least one top Cape Town official. However, it could be overshadowed by preparations for the 2010 football World Cup matches due to be held in the city.
F1 races were held intermittently in South Africa between1962 and 1993, when lack of money and anti-apartheid protests caused the race to be dropped from the international calendar.