Plans afoot for second F1 Malaysian GP venue

4 December 2012 18:35

Singapore billionaire Peter Lim has launched an audacious bid for a second Formula One track in Malaysia.

Set for the Iksandar region of south Malaysia, the 4.5-kilometre test track, if approved, will join the country's Grand Prix circuit in Sepang, which has hosted 14 races since its first inclusion on the Formula One calendar in 1999.

The track, conceived by a yet-to-be named F1 track designer, will comprise part of a complex called 'Motorsport City'.

The project in Johor, which borders Singapore, is valued at more than US$1.2 billion, of which Lim's FASTrack Autosports Pte has a 70 percent holding.

Neighbouring Singapore agreed to a five-year extension for Formula One's only night race with F1 supremo Bernie Ecclestone in September.