11:09 GMT +326 March 2019
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    A contract giving the Krasnodar Territory the right to host a Russian stage of the FIA Formula One World Championship was signed in the presence of Prime Minister Vladimir Putin in Sochi on Thursday. Under the contract, worth an estimated several billion rubles, the Krasnodar Territory will host the event from 2014 to 2020. The racetrack for the event will be built in Sochi’s Imereti Valley. The competitive bidding to choose the general contractor will be announced in April 2011.

    A contract giving the Krasnodar Territory the right to host a Russian stage of the FIA Formula One World Championship was signed in the presence of Prime Minister Vladimir Putin in Sochi on Thursday.
    Under the contract, worth an estimated several billion rubles, the Krasnodar Territory will host the event from 2014 to 2020.
    The racetrack for the event will be built in Sochi’s Imereti Valley. The competitive bidding to choose the general contractor will be announced in April 2011.

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