Singapore to cancel Changi Motorsports Hub project
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Singapore to cancel Changi Motorsports Hub project
The Changi Motorsports Hub project will be cancelled, announced the Singapore Sports Council (SSC) on Monday afternoon.
SSC will work towards mutual termination of its contract with the consortium tasked to build the Changi Motorsports Hub.
This will be done probably by year-end, said SSC chief executive officer Lim Teck Yin, at a press briefing on Monday.
After the contract has been terminated, the SSC will sound out the market, to decide the way forward.
WHAT?!?!?!?!??!?!?!??!?!
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huh ?
no sponsors ?
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No ar..
Financing problem
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Supposed to look like this...... when completed...
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SINGAPORE Agro Agricultural, a consortium led by Turf City Management, was the first of three groups bidding to design, build and manage the Changi Motorsports Hub to present their proposals to the media on Monday.
Among its unique selling points is securing rights to stage MotoGP, motorcycling’s equivalent to Formula One, at the Hub.
The other two parties, Sports Services, which is linked to Haw Par Corporation, and SG Changi, a consortium of different partners, will be making their presentations later on Monday.
A panel of government agencies and consultants will select and announce the successful bidder around the first quarter of next year.
The hub, which is expected to be ready by the end of 2011, will boast a permanent track at least 3.5km long.
The privately-funded facility will be located next to the Singapore Airshow grounds. It will include a sheltered grandstand for at least 8,000 spectators,a driver training school and food and beverage facilities.
The cost of developing the Grade Two facility is expected to run into several hundred million dollars. It will have a tenure of 30 years, and will be able tohost any motorsports race, bar Formula One.
The successful bidder must stage at least three international races every year,which may include the A1 Grand Prix and motorcycling’s MotoGP.
Previously, the total motorsports and commercial GFA was set at 13,000 sq m,but SSC later upped the area to 67,000 sq m to make the project morecommercially viable.
The Changi Motorsports Hub is expected to contribute significantly to the government’s aim of developing a $2 billion-a-year sports industry by 2015 and having 20,000 people in sports-related jobs.
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and poof~
all gone, just like tt. -
own goal...
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SSC not salvaging motorsports hub project
SINGAPORE: The Singapore Sports Council (SSC) has dismissed suggestions that SG Changi is looking at salvaging the Changi Motorsports Hub project.
SSC CEO Lim Teck Yin said that the Council's decision of not calling for a re-tender for the project remains.
On Monday, the Council announced a mutual agreement between SSC and SG Changi, to terminate the S$380 million project.
This came after the Council concluded SG Changi's inability to meet the contractual agreement to complete the project by this month, as stipulated in the contract.
Part of the delay was due to SG Changi experiencing problems like the lack of funds to a corruption probe.
Mr Lim said that the SSC would finish the contract termination phase first.
He added that the SSC would at an appropriate time, address the feedback and interest expressed by other parties to revive the project.
Me Lim said: "I cannot comment on rumours. We are in touch with SGC (SG Changi) and they have confirmed with us that they have made no such statements.
"And, they confirmed with us that we are on track to come to a mutual termination arrangement by the end of this year."
- CNA/ck -
we already got a 'mini' version at joo koon
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they awarded to the one tts the cheapest rite?
and see wat the cheapest end up as?
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so its over just like that?
this is the first time i heard of such a thing.
the project was supposed to be completed year end. so they just cancel it and nobody has to answer for it?
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now is the finger pointing and blame pushing
who to answer for this flop
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Originally posted by FireIce:
now is the finger pointing and blame pushing
who to answer for this flop
I'm sorry it happened.
Honest mistake.
Happen once in 50 years.
Let's move on.
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how much was loss from this fiasco?
shouldnt SSC proceed legal proceedings against then tenderer who won the bid to recover losses?
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Originally posted by Just_do_it_lah:
huh ?
no sponsors ?
You went there to take this picture?
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Originally posted by FireIce:
they awarded to the one tts the cheapest rite?
and see wat the cheapest end up as?
If cheapest, that means less money lost lar.
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Originally posted by FireIce:
Singapore to cancel Changi Motorsports Hub project
The Changi Motorsports Hub project will be cancelled, announced the Singapore Sports Council (SSC) on Monday afternoon.
SSC will work towards mutual termination of its contract with the consortium tasked to build the Changi Motorsports Hub.
This will be done probably by year-end, said SSC chief executive officer Lim Teck Yin, at a press briefing on Monday.
After the contract has been terminated, the SSC will sound out the market, to decide the way forward.
WHAT?!?!?!?!??!?!?!??!?!
I guess the empty space wil be used for another ambitious hub project.
Stay tuned.