The construction of the circuit that is set to host the inaugural Russian Grand Prix is on schedule, according to organizers, who have revealed images of the site.
Russia, which secured a seven-year deal to host a grand prix from the 2014 season, has allocated nearly $200 million to build the track in Sochi. Organizers said the medical center, the pit building and the pitlane are under active construction. Works on strengthening the soil and preparing the foundation for the track are also being carried out. The construction is expected to be finalized in time for the Winter Olympics in 2014.
"The Russian round of Formula 1 World Championship is destined to happen," said Alexander Bogdanov, general director of "Formula Sochi." "We are pleased to be here in Moscow, and to present our project at Moscow City Racing Road Show.
"The Formula 1 Grand Prix will be a significant event for our country. I'm glad that I and my team have the honor to hold this event, we are ready to do it on the international level. "
Nicholai Buturlakin, deputy governor of the Krasnodar region, added: "Today in Russia we can see the rapid development of motor racing, and the Formula 1 project in Russia arouses great interest.
"We are confident that the circuit in Sochi will be a respectable addition to all the other prestigious sporting events as the Winter Olympics 2014 and the FIFA World Cup 2018, which will be held in our country."
Moscow's own Hermann Tilke-designed track, Moscow Raceway, opened last week with a World Series by Renault event, and after visiting the facility the FIA's Charlie Whiting said it, too, was fully suitable to host Formula 1 should the occasion arise.