After 20 years of planning and negotiating, the contract for the build and running of the Circuit of #Tenerife has been awarded.
At a press conference yesterday (18/05/2015), the The Governing Council of the Cabildo of Tenerife awarded the contract to build the long awaited F1 Grand Prix circuit in Tenerife to Axia SRL, an Italian Company, and for the subsequent operation of the facility, constitute society Onda Rossa SL, which will be composed equally by SLU and Axia Kiti Trans SRL.
The cost of the work will be almost 30 million, which will covered by the contractor in exchange for a 35-year concession with another five year renewable. It is expected that the work will take 21 months and that it could begin in July this year. an infrastructure that will be located in the southern enclave of Atogo, in the town of Granadilla.
The total area will cover 1.3 million square meters and with a track of just a hint over 4 kilometres, speeds of over 310 KPH could be reached.
This can only be good news for the Island.
F1 Circuit up Date 7/07/2015
F1 Circuit up Date 7/07/2015
