"Formula 1: Grand Prix of Turkey under threat

The project of construction of the Turkish track Grand Prix "Formula 1" was under threat. To complete the Turks missing $55 million. An additional source of funding is urgently looking for the chamber of Commerce of Istanbul, RIA "Novosti" with reference to the local newspaper "Zaman".Initially, the project cost was about $ 100 million, but over time grew to 153 million, the newspaper writes. According to Zaman, Istanbul chamber of Commerce in the near future will hold an emergency meeting on the issue of financing of the circuit. The leadership of the house hopes to find additional funds will be possible thanks to the assistance of representatives of business circles and administration of Istanbul.The opening of the Turkish highway "Formula 1" is set in Istanbul on 21 August, when scheduled to be held the 14th stage of the 2005 world championship. At the first ever Turkish Grand Prix, according to forecasts, it is expected the presence of about 120 thousand spectators, most of which will come from abroad.The construction of the Istanbul route was started in September 2003. The circuit length of 5.3 km and a width of 12.5-21.5 m high has 13 turns.To date, according to "Zaman", completed 90% of the race and 95% of its infrastructure. At the same time, as noted, only half completed works associated with the construction of the spectator stands, construction of electrical and mechanical systems of the circuit.According to the forecasts of the Turkish authorities, racing, Formula 1 is the year to bring the local Treasury income of $70 million. Representatives of the tourism industry, in turn, noted that the implementation of this project, the inflow of foreign tourists in Turkey will increase to 20 million per year (in 2004, Turkey was visited by more than 17 million foreigners).21.04.2005.



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