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Singapore billionaire Peter Lim has outlined plans to construct a Formula 1 grade circuit in southern Malaysia. Situated in the Iskandar region, the proposed layout is 4.5 kilometres in length and will be part of the new 'Motorsport City' complex.
Lim, a shareholder of McLaren automotive, owns a 70 percent stake in the project through his company FASTrack Autosports Pte. Valued at $1.2 billion, the development will stretch across 270 acres, including showrooms, garages and a karting track.
"The region is fast becoming a hub for motor sports," Lim, who has acquired the services of a Formula 1 circuit designer to bring his ideas to life, said in a statement.
The test facility will be located close to the Tuas Second Link, one of two border crossings between Malaysia and Singapore. Both Asian countries already host Grands Prix at the respective Sepang International Circuit and Marina Bay venues.
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