Gujarat’s GIFT City’s ambitious plan to build a racetrack for holding Formula 1 (F1) races has come to a grinding halt just four months after initiating a feasibility study and selecting consultants, according to sources familiar with the matter.
Earlier this year, on March 11, the Gujarat Sports Authority announced that top international F1 racetrack designers were invited to present the feasibility of constructing an F1 racetrack at GIFT City. The project saw intense competition among global designers, with the consortium of renowned German designer Hermann Tilke and India’s Arcop architects emerging as the frontrunner for the feasibility study.
However, GIFT City’s plan has been halted, insiders revealed. “Designers had given feedback that given the layout of GIFT City, it may be difficult to build a racetrack that conforms to F1 standards due to structural issues,” said one source.
The financial implications also pose a significant hurdle. Estimates place the cost of building such a racetrack between Rs 5,000 and 10,000 crore.
R.S. Ninama, Director General of the Gujarat Sports Authority, and Hermann Tilke have not responded to inquiries from ET. Another source indicated that the project might be integrated into a larger plan for developing infrastructure for the Olympics. “So, you may get a racetrack, but not one that can host F1 races,” the source added.
GIFT City, located in Gandhinagar, has been developed as a financial hub. The city is aimed at attracting international businesses with various tax incentives. The government is focusing on enhancing the city’s livability by developing entertainment and leisure infrastructure. Notable projects include an underwater aquarium, water sports facilities, and a retail zone featuring a 158-meter-high Ferris wheel.
This story has been derived from a story reported by Economic Times.
