ECONOMY

Piraeus F1 project claims to be Greece’s official track

A private project to build a Formula One motor racing track in the port city of Piraeus, near Athens, is Greece?s only official candidate to hold Formula One races, said Dielpis Formula 1, which is supervising the project.

Dielpis is making contact with interested investors after the Automobile and Touring Club of Greece pitched for the Drapetsona track as the official Greek candidate following a request to Dielpis by the local mayor and Bernie Ecclestone, chief executive of Formula One Management, according to a statement on Thursday.

The project ?constitutes a private initiative and investment that not only doesn?t burden Greek citizens, it creates benefits for them,? Dielpis Formula 1 said.

[Bloomberg]