Mar.15 (GMM/ Argentina is close to returning to the formula one calendar, the president of South America’s second-largest country has revealed.

EFE news agency quotes Cristina Fernandez de Kirchner as saying it is likely an Argentine grand prix, last held at the ageing Autodromo Oscar Alfredo Galvez in Buenos Aires in 1998, will take place in November or December 2013.

She said next year’s race would take place on the streets of the coastal city of Mar del Plata.

“For us this is very important,” she said, “because after football, motor racing is the second favourite sport of Argentina.”

Fernandez said the deal would be initially “for three years, in 2013, 2014 and 2015″.