MSRDC board chairman Jaidatta Kshirsagar provided this information to the state council yesterday. Replying to a question raised by BJP member Ashish Shelar, the minister said that the consultant Capita Symonds India Pvt Ltd undertook a survey of 12 locations in the Mumbai Metropolitan Region and has recommended the Adhai site.
Shelar’s question was over the spending of crores of rupees on consultancy charges by the MSRDC, which according to him was a huge expenditure in the absence of proper planning. While the MSRDC has a 100-acre plot available, it will need to find another 400 acres to meet the requirements for the project. MSRDC is expecting an investment of Rs 1,500 crore for the project and once developed, the cost would be recovered through Formula One races.
“It will also generate employment opportunities, besides offering good returns to MSRDC,” said the minister. According to Kshirsagar, racing fans in India keenly followed Formula 1 and the country has the second highest viewership in the world. “The younger generation is keen on participating, as well as watching the thrill of it [F1]”, said Kshirsagar.