Billionaire to build new Malaysian F1 circuit

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A Singapore billionaire has revealed plans to construct a new circuit in the Iskandar region of Malaysia.

The development, which will be known as 'Motorsport City', includes an F1-compliant 4.5 kilometre track, as well as hotels and apartments.

The venture is valued at over $1.2 billion and is just minutes away from the Singapore border.

Both Malaysia and Singapore currently have F1 races - though Lim is keen to attract the series to his circuit once completed in 2015 or 2016.

Lim, who owns a stake in McLaren, will control 70 per cent of the project whilst the remaining 30 per cent will be divided between the Johor royal family and Malaysian state investment firm Khazanah Nasional.

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