The news is quite positive,” the drinks and aviation billionaire, who is also chairman of the Motorsports Association of India (MAI), told a news conference at the German Grand Prix.
“I happened to be having lunch with the CEO of one of India’s biggest banks and he confirmed that they had sanctioned a facility to the developer of the Indian track,” he added.
“He has actually bought the land and on October 1 construction of a brand new track will begin.
“So for the first time now I think I feel very confident to be able to say to you that there will be a brand new track and that we will have our first grand prix in 2010. It’s just outside New Delhi,” said Mallya.
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