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Commenting article: US, Arab, Canadian Companies to Invest EUR 1 B in Bulgaria's Formula One Project

Companies from Abu Dhabi, the USA, and Canada are to come together to form a consortium for investing in Bulgaria's circuit for Formula One and adjacent venues, Novinite.com (Sofia News Agency) learned.

In an exclusive interview for Novinite.com (Sofia News Agency), Bogdan Nikolov, Chairman of the Bulgarian Motorcycling Federation, revealed that the Abu Dhabi company EABG, which first expressed interest in investing in Bulgaria's F1 project in August 2010, will be forming a consortium of Arab, American and Canadian companies for investing in Bulgaria's future Formula One track.

Anwar Badwan, an adviser to EABG, who is organizing the consortium, confirmed for Novinite.com (Sofia News Agency) over the phone the information that US and Canadian companies will be participating in it.

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#1
Mat - 28 Oct 2010 // 19:43:33

Stop with this nonsense already. The only reason you have 'an exclusive' is because no-one else is dumb enough to publish this idiocy.

#2
Highlander - 28 Oct 2010 // 11:21:58

The expected investment of the consortium in the Bulgarian Formula One track project could surpass EUR 1 B, including not just the circuit but an entire new town north of Sofia with 7000 luxury villa and a number of entertainment and shopping venues.

Oh no, not again!
The track with all facilities, infrastructure, a new town with 7000 luxury villas etc... All ready to go for the 2012 F1 season ?
The Bulgarian authorities are often with the fairies, but now they have got company-if not competition. Another con to attract naive investors - "make money from nothing" ?

We have entered an area of really high-flying insane projects in Bulgaria where miracles are presented every second day.

Who is willing to bet that the F1 project will go ahead ?

Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria