Ukraine capital Kiev plans $1bn F1 track

Ukraine capital Kiev is the latest name linked with a future formula one circuit foray.

A government official is quoted by the Kyiv Post newspaper as saying the city will spend $1 billion on a 5.2 kilometre track that is set for completion in 2013.

"We will build an international track in the Polissia and Ivankiv districts in order to host international competitions," said head of state administration Anatoliy Prysiazhniuk.

"I saw the project, and experts from Europe assessed it," he added.

Ukraine borders existing F1 host country Hungary, and of course Russia, which is set to join the calendar in 2014.