Greece Gives Green-light to F1 Plans Officials

Greece Gives Green-light to F1 Plans Officials | Greece Give Green-light to Formula One Plans Officials

After years of debate, Greece has approved plans to build a Formula One track near the western port of Patras, officials said on Wednesday. “It has taken many years to reach this point,” the head of the company set up to manage the project, former Patras mayor Evangelos Floratos, told Ta Nea daily after it was included in government development plans.

The project has an estimated cost of 94 billion euros ($135 billion) and will be partly subsidised by the Greek state.

Greece Gives Green-light to F1 Plans Officials the track, designed to accommodate Formula One races as well as motorbike and cart events, will be built near the town of Farres, some 20 kilometres (12 miles) southeast of Patras. Its completion will require three years, reports said.