Formula-1 Course Under Construction In Moscow

On Tuesday at a press conference Grigory Antyufeyev, chairman of the Tourism committee of the government of Moscow stated that 100,000 foreign tourists would annually visit Russian Formula-1 Grand Prix race in Moscow. Antyufeyev reported that by 2003 a multi-purpose sport complex would be constructed in the Nagatino flood-lands to comprise a 3.6 km long Formula-1 course which would correspond to the standards of the International Auto Sport Federation (FIA). The cost of construction will amount to USD 100 million. The expected volume of investments is USD 1 billion. Russian Grand Prix race will be included into the calendar of the Formula-1 World Championship in 2003. According to Antyufeyev, all those figures are mentioned in the draft contract to build the course which is ready for signing.