MOSCOW REGION GOVERNOR ON FORMULA-1 TRACK CONSTRUCTION

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DZERZHINSKY (Moscow region), July 28 (RIA Novosti) - The construction of the Formula 1 track in the Moscow region will cost $2 billion, Moscow region governor Boris Gromov told a Wednesday press conference.

In 2003, Formula 1 owner Bernie Ecclestone held negotiations with the region's authorities on the construction of such a track, but it didn't get underway.

In Mr. Gromov's words, the track will be built in the Dmitrov region, and the area of construction will be 400 hectares.

"We are choosing investors for construction now," said the governor.

"It is too early to sign an agreement with Formula One owners yet, as they will sign it only when the investor is specified," Mr. Gromov said.

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