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    CONSTRUCTION OF FIRST RUSSIAN F-1 TRACK TO BE LAUNCHED THIS YEAR

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    MOSCOW, February 10, 2004. (RIA Novosti correspondent Alla Stambolidi) - The construction of the Formula-1 racing track will be launched this year near the Sarochany skiing resort in the Dmitrovsky district of the Moscow region, Governor of the Moscow Region Boris Gromov disclosed to journalists on Tuesday.

    According to him, "the area for the racing track have already been defined and the talks with private investors are almost over." The territory of over 400 hectares will include the racing track, racing school facilities, hotels, restaurants and various recreation facilities.

    The idea to construct a racing track in Russia emerged in 2001. Initially the track was to be constructed in Moscow. However, due to some splits in opinions F-1 owner Bernie Ecclestone and Moscow Mayor Yury Luzhkov failed to sign the contract. Following the incident Moscow gave the right to construct a Russian F-1 track to the Moscow region.

    F-1 tracks are situated on the five continents in 17 cities, and each city gets considerable dividends from hosting F-1 Grand Prix, most from advertising and paid TV-broadcasts.

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