'Auto-moto Park', the government grants 3 million euros in expropriations - The project being built in Elbasan has begun to be implemented
The government has approved a fund of almost 3 million euros for expropriations of properties affected by the implementation of the "Auto-moto Park" project in Elbasan. The decision taken at this Wednesday's meeting comes at a time when the project has begun to be implemented, while Prime Minister Edi Rama has promised that within 2030 it will be ready to host Formula 1.
The allocated fund of 3 million euros will come from the state budget. According to the decision approved by the government, the total value of the expropriation, of three hundred and forty-seven million three hundred and seventy-two thousand two hundred and sixty) lek, will be transferred from the state budget to the "Expropriation Fund" account at the Bank of Albania.
Work has already begun on the Auto Moto Park project, a project agreed with the International Automobile Federation. The 4,444 m long track is designed for speeds of up to 349 km per hour.
This project was presented in March by Prime Minister Edi Rama, who promised that it would be ready within the next year, while by 2030 it would welcome the holding of Formula 1 races.
Likewise, Auto Moto Park is expected to be a new economic engine, where in addition to the track that will be used not only for Formula 1, it includes spaces for fairs, museums, retro, motorsport educational centers and road safety education centers.
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