ECONOMY

Greece poised to get its own F1 track

Greece is backing a private project to build a Formula One motor racing track in the port city of Piraeus, near Athens, the Sports Ministry said.

Hellenic Grand Prix races in Drapetsona, a former industrial area of Piraeus, would improve prospects for tourism, create jobs and strengthen the country?s place on the international stage, Costas Tzavaras, deputy education, religious affairs, culture and sports minister, said in an e-mailed statement.

Formula One Chief Executive Officer Bernie Ecclestone supports the idea of F1 races in Drapetsona and will visit the proposed site for discussions, according to a statement on the website of Dielpis Formula1, which is supervising the project.

Greece approved plans in May last year to build a race track near the western port city of Patras for staging Formula One, motorcycle and go-kart racing. [Bloomberg]