Petrolhead: Lim has a garage of exotic machines.
SINGAPORE: Billionaire Peter Lim is partnering the Johor royal family and Khazanah Nasional to embark on a RM3bil race circuit project in Iskandar Malaysia.
The 100ha site is 10 to 15 minutes away from the Second Link in Tuas, The Straits Times here reported. It will be an integrated facility with a 4km to 4.5km race circuit that can hold GT, go-kart and motorcycle races.
Sources said that when it is ready by 2016, the circuit will be able to host all types of car races other than single-seat class races. It will also have a bonded area where well-heeled enthusiasts can keep tax-free cars, including left-hand-drive models.
Sources said Lim, 59, who bought a stake in British sports carmaker McLaren Automotive, has formed a new business unit – to be headed by a well-known Singapore automotive veteran – to spearhead the project. One source put Lim’s stake in the project – dubbed Motorsports City – at 35%.
The track, which will be conceptualised by renowned designers, such as Hermann Tilke or Clive Bowen, will feature undulating stretches, challenging turns and a 1.2km to 1.5km straight that will allow vehicles to hit speeds in excess of 300kph. Besides the track, a source close to the project said there would be resort homes, a car museum, an advanced driving school, workshops and a warehouse.
There will also be an air-conditioned circuit for radio-controlled cars and a simulator room featuring top-class machines. The facility will be open to car manufacturers who want to test their vehicles as well as conduct product training for employees and launches for customers. On top of that, it could have a go-kart manufacturing division.
The venture – on freehold land – will also take some shine off the Pasir Gudang circuit in Johor, currently the nearest track Singaporean petrolheads have access to. Lim, who was unavailable for comment, is known to be a car enthusiast. He has a garage of exotic machines that he rarely has a chance to drive here.
The Johor state government, meanwhile, welcomed any form of investment that would help encourage sports activities. State Youth and Sports committee chairman Md Jais Sarday said Johor was aiming to be the biggest sports hub in the region.
To make that happen, he said the state government hoped to lure in as many investors as possible, especially into Iskandar Malaysia. Jais also noted that Johor had been organising numerous international sporting events. “I believe the state is ready to host other international sporting activities, in particular motor sports,” he said.
-thestar online.
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