Minister for Energy D.K. Shivakumar said that 300 acres on the Bengaluru-Mysuru road, near Ramanagaram, has been identified for developing a car racing track and other sporting activities.
A U.S.-based firm has shown interest to develop the car racing track at an estimated investment of $250 million. The land required for the project would be acquired either through payment of compensation to farmers or on basis of lease, Mr. Shivakumar told presspersons here on Saturday.
A plot has also been identified at Devanahalli for the track and suitable location would be finally selected after talks with the Tourism Department. The project will create 3,000 jobs, he said.
