Greek goverment will subsidize F1 track

Formula 1 flag
2 October 2012 by    1 min read

Formula 1 flagGreece has set aside almost EUR 30 million to subsidize the construction of a formula one circuit, the country's development ministry said.

Bloomberg reports that, despite Greece's deep economic woes, the track will be built near the western port city of Patras at a total cost of just under EUR 95 million.

Private investment company Racetrack Patras SA will oversee the project, journalist Paul Tugwell wrote.

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