At least three international races will be held each year; industry has sporting and economic growth potential
SINGAPORE'S motorsports industry is set to shift into high gear.After months of speculation, the Government yesterday announced plans to call for design tenders for a permanent racetrack in Changi. With the winning bidder required to host at least three international races annually, enthusiasts - already high from Formula One fever - will be spoilt for choice come the facility's completion in 2011.
Dr Vivian Balakrishnan, Minister for Community Development, Youth and Sports, said the move was made after the motorsports industry was identified to have both sporting and economic growth potential.
'In our discussions with the private sector, industry players shared that the development of a permanent racetrack is critical for us to develop a comprehensive motorsports industry,' he said after touring the 20ha site next to the Singapore Airshow grounds.
A request for proposals is likely to be made next May, with the tender and bidding process expected to take about half a year. Five to eight local groups have expressed interest, and Dr Balakrishnan said he expects strong interest with a formal announcement.
The facility will be fully funded by the private sector, but the successful bidder will pay the government market price for the land. The Grade 2 facility, which will have a tenure of 30 years, could host any race except F1.
To ensure the track remains commercially viable, the successful bidder must stage at least three international races, such as the A1 Grand Prix, Japan GP and motorcycling's MotoGP, every year. Other site facilities will include a racing and driver training school, and a pit building and grandstand.
The track's length is likely to be 2.8km to 3.5km, and its unique seafront location makes it an iconic site for drivers and spectators. It also allows a 1km straight, longer than the average of 700m in other permanent circuits.
Early estimates put construction costs at about $100 million.
Motorsports fever has been on the rise since May, when Singapore announced it will host its first F1 race on a Marina Bay street circuit next year.
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Apart from getting a taste of the Formula One race here, motor sports enthusiasts can also look forward to at least three international races based in Singapore by early 2011.
Announcing the Government's plans to develop the motor sports industry here, Community Development, Youth and Sports Minister Vivian Balakrishnan said his ministry is looking to the private sector to build and maintain a permanent race track located at Changi.
However, said Dr Balakrishnan, the F1 race is just once a year and is insufficient 'as a platform to encourage all the other potential developments which surround motorsports'. Hence the decision on a permanent facility which could host other races, exhibitions and industry-related events.
One development the Government is keen to tap is the business potential of the motorsports industry. Top automobile manufacturers such as BMW and Mercedes use motor races as technical and engineering test-beds for their commercial vehicles.
Said Dr Balakrishnan: 'Many of these companies already have a base in Singapore. As Singapore moves up the value chain... there are areas we believe Singapore's high-precision engineering and our past experience will give us a competitive edge.'
He also announced a cross-government agency working group, led by the Singapore Sports Council, to develop a comprehensive motorsports industry development plan.
The local motorsports fraternity is also understood to be in the advanced stages of planning a national race 'born and bred in Singapore'. It will be staged at the new circuit and involve touring cars.
Said Singapore Motor Sports Association official Tony Tan: 'To us, this is like the next biggest news after F1. This is something we can call our own. Fewer trips to Sepang and Pasir Gudang for us soon!'
F1: Not too late to recover lost ground and boost tourism
ReplyDeleteKudos to the authorities for reviving motor racing with a permanent racetrack.
Racing enthusiasts who witnessed the Singapore Grand Prix from 1961 to 1973 at the Old Upper Thomson Road circuit could not have asked for more after the good news that the F1 race will be hosted here.
It was a disappointment then to many of them when the event was discontinued after 1973.
Among other things, the increasing volume of traffic, the consequent inconvenience of having to close peripheral roads for the event as well as the fatal accidents led to the demise of this annual event.
Even Minister Mentor Lee once admitted that on hindsight Singapore should not have ceased the racing event because of the economic spin-offs which our neighbour is now enjoying.
Nevertheless, it is still not too late to recover lost ground and boost tourism.
Andrew Seow Chwee Guan