Discussions are at an advanced stage for the building of an FIA standard motor racing circuit at Mellaha Lake in Tripoli.

Charles Bellia, together with Frans Deguara, is promoting the project through their company IC SKA International-Malta, which is leading the discussions between the two investors, Silverstone Formula of Northamptonshire, UK, and Dowleen Co. Ltd of Libya.

“This is an exciting project, not only to build a racing circuit that can host several FIA-sanctioned events, like Formula 3 races, Formula GP2-GT races, quarter mile sprints, karting and motorbike races, but also to form a network of circuits across North Africa in Egypt, Libya and Tunisia,” Mr Bellia said.

The initial investment in the Mellaha circuit is expected to be €120 million. The plans for the circuit have been drawn up, including a 3.9-kilometre racetrack, and a good deal of work has been devoted to preparing a business plan and conducting all the necessary feasibility studies. The Mellaha Lake site was first used for racing in 1925. It hosted the Tripoli Grand Prix in 1931 and has been unused since 1940.

Two key elements of the business plan are a proposed joint venture with an Italian firm to build electric racing cars, go karts and super karts in Sicily with technology from a South African company, Spread Design, Hi-Technology and Performance, which is considering moving to Malta.

“Since Malta does not have an adequate racing circuit, we have had to look to Italy for the manufacturing part of the project since these high-tech racing vehicles need to have test facilities before being homologated. The headquarters of the project will also be in Italy,” Mr Bellia said.

Silverstone Formula is being represented in the discussions by its managing director Carly Barnes, and Head of Investments Guy Rees, and Dowleen Co. by its chairman, Azwam Atwair.