S. African group wants F1 circuit in Cape Town

A South African company said this week that it was bidding to build a Formula One race circuit near Cape Town's international airport at an estimated cost of one billion rand ($137.8 million).

David Gant, chief executive of the South African Grand Prix Corporation (Pty) Ltd, told reporters the project had the backing of the South African government but could be scuttled by land problems.

The municipal and provincial governments as well as the company that runs the airport have not yet released the estimated 58 hectares of land needed to build the 5.7 km circuit and a 17,500 spectator stand.

Another 175 hectares also would be have to be secured to develop commercial and industrial parks linked to the track.

At least one official in Cape Town, one of the hubs of South Africa's booming tourism sector, is supporting the idea of building the circuit, which would accommodate racing cars and motorcycles.

Simon Grindrod, who oversees economic development in the politically-divided city, said he would champion the proposal.

The last South African round of the world championship was held at Kyalami in 1993 before disappearing from the Formula One calendar amid sporting boycotts aimed at ending apartheid-era white minority rule in the African nation.

Financial problems ended a brief return to the country in 1992 and 1993, the last race being won by Frenchman Alain Prost.