Formula One circuit may appear in Sochi

The Ministry of Regional Development of Russia proposes to construct a Formula One circuit in Sochi. The budget for the project is estimated at $200 million, Rosbalt reports, quoting "Vedomosti".

The preliminary project has already been worked out with the Tilke GmbHm company, which deals with the construction of F1 circuits. The final decision will be made by Berny Ecklestone, who proposes to finish the construction by 2014 and organize the first race in the fall of 2014.

The circuit will be constructed in the valley of Imereti.