Abu Dhabi F1 circuit gets $204 mln for construction
www.chinaview.cn 2007-10-28 14:20:34   Print

    ABU DHABI, Oct. 28 (Xinhua) -- The Abu Dhabi Formula 1 circuit has got a contractor financing of 750 million dirhams (204 million U.S. dollars) for its construction, local newspaper Khaleej Times reported on Sunday.

    The loan was co-arranged by three leading banks operating in the United Arab Emirates (UAE) -- BNP Paribas, Mashreqbank and HSBC, the report said.

    By joining their efforts, the three banks have met the requirements of the constructor Cebarco WCT, a joint venture between Bahrain's Cebarco SPC and Malaysia's WCT Engineering.

    The Abu Dhabi F1 circuit is developed to hold the Abu Dhabi F1 Grand Prix from 2009 for a renewable seven year term.

    At a length of around 5.6km, the circuit will include high speed areas ending in tight overtaking turns, a street section and a marina section.

    It is estimated to be one of the longest and most demanding tracks in the world.

    The circuit will be built on Yas Island, a natural 2,550 hectare island located to the east of Abu Dhabi island, which will also feature a Ferrari theme park, signature hotels, golf courses and a retail area of 300,000 square meters.

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Editor: An Lu
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