Three consortiums submit tenders for Changi Motorsports Hub

Three consortiums have submitted tenders to build Singapore’s permanent racing track in Changi. The Singapore Sports Council (SSC) had called for tenders in March and the bidding closed at 4pm on Thursday.

The three consortiums are SG Changi Pte Ltd, Singapore Agro Agriculture Pte Ltd and Sports Services Ltd. The bids include designing, building, financing and managing the Changi Motorsports Hub (CMH).

The 41-hectare site will be released on a 30-year lease. It is expected to be ready by end-2011 and will feature a 3.5-kilometre track, an 8,000-spectator grandstand and F&B outlets.

The successful bidder will be awarded the project by the first quarter of 2010. SSC is confident the CMH project will not be delayed like the Sports Hub.

Oon Jin Teik, CEO of SSC, said: “The Sports Hub is about liquidity issues in a global market due to the financial crisis. This is a much smaller project compared to the Sports Hub and I think it is also one that potential bidders will have to assess their own financial situation.”

Source : Channel NewsAsia – 27 Aug 2009

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