Taiwan's first international motor racing circuit is scheduled to be completed in Dapeng Bay (
The circuit's specifications were certified by the Federation Internationale de L'automobile (FIA) and the venue will be qualified to host all FIA G2-level events but not Formula 1 races. It will also be capable of holding motorcycle races hosted by the Federation Internationale de Motorcyclisme.
The circuit's main stand will have a seating capacity of 15,000.
A 45-room motel is being built nearby to offer accommodation for motor sports fans.
The administration made the announcement last week after the Environmental Protection Administration's (EPA) environment impact assessment committee finally granted approval to the Dapeng Bay build-operate-transfer (BOT) project on Tuesday after two years of evaluation.
Besides the race track and motel, the project also includes a water theme park, a golf course, a harbor for yachts and an air strip for light aircraft. The entire project is estimated to cost more than NT$10 billion (US$303 million), and covers a total area of 257 hectares.
The administration said the EPA's approval enables contractors to begin work on the project which may be complete by next Lunar New Year.
Dapeng Bay was used as a base for seaplanes during the Japanese colonial era before being taken over by the Republic of China Air Force.
Since 1997 the bay has become a tourist attraction thanks to its scenery and historical sites.