18m euros for Bucharest's first racing track

The investment into setting up the Bucharest Ring track, where the Formula 3 and FIA GT races will be held between May 18-20, revolves around 18 million euros raised exclusively from private funding. The promoter and investor of the event is Harmut Beyer, an ex-Formula 1 racing driver and one of the best-known organisers of worldwide car racing events. “The project started two and a half years ago, when the circuit was initially designed. Expenses related to building the track and auxiliary facilities range between 15-18 million euros, but the total sum has not been calculated as works are still underway,” stated Albert Panaiot, representative of Bucharest Ring, the company held by Beyer, which is currently developing the race circuit around Casa Poporului (the Parliament headquarters). Beyer was also involved in developing the Formula 1 circuit in Bahrain, through his company Beyer Industrial Consulting. “The authorities have not contributed any funding for the event, but they have played a consulting role; by securing approvals and supervising the progression of the work,” added Panaiot. The creation of the race track has involved building spectator stands with an over 70,000-seat capacity, removing asphalt from 3.2 kilometres of road and re-asphalting according to regulations imposed by the FIA GT, as well as placing concrete crash barriers on both sides of the track. “The asphalting works started on April 17 and must be finished by the 15th or 16th of May, with the races to take place two days later (…),” stated Dan Savulescu, manager of Pa & Co, builder of the racetrack.