Oct.2 (GMM/Inautonews.com) Greece has set aside almost EUR 30 million to subsidise the construction of a formula one circuit, the country’s development ministry said.

Bloomberg reports that, despite Greece’s deep economic woes, the track will be built near the western port city of Patras at a total cost of just under EUR 95 million.

Private investment company Racetrack Patras SA will oversee the project, journalist Paul Tugwell wrote.