SINGAPORE Agro Agricultural, a consortium
led by Turf City Management, was the first of three groups bidding
to design, build and manage the Changi Motorsports Hub to present
their proposals to the media on Monday.
Among its unique selling points is securing
rights to stage MotoGP, motorcycling’s equivalent to Formula One,
at the Hub.
The other two parties, Sports Services,
which is linked to Haw Par Corporation, and SG Changi, a consortium
of different partners, will be making their presentations later on
Monday.
A panel of government agencies and
consultants will select and announce the successful bidder around
the first quarter of next year.
The hub,
which is expected to
be ready by the end of 2011, will boast a permanent track at least 3.5km
long.
The privately-funded
facility will be located next to the Singapore Airshow
grounds. It will include a sheltered grandstand for at least 8,000
spectators,a driver training school and food and beverage
facilities.
The cost of developing the Grade Two
facility is expected to run into several hundred million dollars.
It will have a tenure of 30 years, and will be able tohost any
motorsports race, bar Formula One.
The successful bidder must stage at least
three international races every year,which may include the A1 Grand
Prix and motorcycling’s MotoGP.
Previously, the total motorsports and
commercial GFA was set at 13,000 sq m,but SSC later upped the area
to 67,000 sq m to make the project morecommercially
viable.
The Changi Motorsports Hub is expected to
contribute significantly to the government’s aim of developing a $2
billion-a-year sports industry by 2015 and having 20,000 people in
sports-related jobs.
