| Moscow Mayor Yuri Luzhkov, on behalf of the capital's authorities, signed an agreement with the British company TWR Group, which in the recent past was a co-owner of the Formula 1 team, to begin investment and construction of a multi-purpose motor sports complex in the Nagatinskaya floodplain area. The main element of the complex should be a track for auto racing in the Formula 1 class. TWR Group, owned by Tom Wilkinshaw, a well-known figure in formula circles, is one of the world's most respected companies specializing in the development of international racing circuit projects. The British company has already completed preliminary design at its own expense, and also undertakes to attract at least 25% of the required investment funds to the Moscow project. Moreover, according to representatives of TWR Group, the company is ready to attract the necessary investments in full ($100 million). According to the agreement, it is assumed that construction of the route and all infrastructure will begin in March 2001, and within one and a half to two years the construction of the complex will be completely completed. It seems that the mayor of the capital rejected another project for the construction of a formulaic highway, which was supposed to be located near Sheremetyevo airport in the area of the village of Molzhaninovo. Nikolay PROKHOROV
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