A consortium of South African businessmen are rumoured to be joining forces with Abu Dhabi investors to stage a bid to resurrect a Formula 1 Grand Prix, with the country last hosting an event in 1993 at Johannesburg’s Kyalami circuit.
A proposal is being investigated to construct a purpose-built circuit on a site near the King Shaka International Airport at the costal city of Durban, which the group hopes will secure it a ten-year contract to host a Formula 1 race.
The project – should it get the green light – is believed to cost in the region of £200 million, and the group hopes that it will secure the support of local government authorities to help back the plan.
The anticlockwise circuit design – which will also feature a large tourist and retail precinct – is based on the design originally drawn up for a Gauteng Province circuit that fell through.
It would seem that the proposal hasn’t been all that well received by local government authorities, however, whom have urged the group – led by Nightsbridge Investments and Abu Dhabi’s Royal Group – to make an approach to the national government for further support.
It is understood that a meeting is set to take place in the middle of next week to take the project further.
[Original image via Wheels 24]