Greece Planning to Build Formula 1 Racing Track
The only thing standing between it and reality is the ratification of the project by the Greek Parliament. If the last step is taken, then construction will begin at Haladrista, some 20 km northeast of the city of Patras. The investment for the project is a large, but not massive one - €94.6- ($121.5-) million, of which €29.92- ($38.8-) million are government grants, with the rest of the funds being supplied by Petras Autodrome SA, the consortium which is building the actual track.
Once it gets the go-ahead, it will be fully completed in 36 months. However, simply building a track doesn’t bring Formula 1 to your country, and if it does not happen, then the track will be used for a variety of other (less) important international motorsport competitions.