New Tenerife race track to be built

Tenerife, the largest and most populous island of the seven Canary Islands of Spain, will build a new race track called "Tenerife Circuit", a top official announced here on Wednesday.

Carlos Alonso, the president of Tenerife, announced the publication of a Request for Proposals (RFP) for the construction of a new race track.

It will be located in Granadilla De Abona, and the project will include management of the track for an initial operating period of 40 years, with a necessary investment of 25.7 million Euros.

The race track is located in the year-round sunny south of the island, 2.5km from Aeropuerto de Tenerife Sur (TFS) airport and 15km from Arona and Adeje, two of the main tourist areas of both Tenerife and Spain, which account for 78% of all tourists visiting the island.

The race track covers an area of around 1.3 square km belonging to the Cabildo of Tenerife (Tenerife Government), and the project incorporates the latest trends in design and safety while offering several alternatives for simultaneous races.

Tenerife received around 6 million tourists last year. It has become the leading tourist destination in the Canarian Archipelago and one of the most visited destinations in Europe.

In addition to a growing tourism sector, Tenerife has a unique European Economic framework which offers companies operating on the island 4 percent business tax and other attractive benefits.

Carlos Alonso said, "The Circuit fits in with our vision of Tenerife as a luxury destination with world class five-star hotels and facilities. In addition, Tenerife has always had great tax breaks within Spain. Its separate economic and tax system guarantee exceptional conditions to encourage investment and trade." Enditem