ISTANBUL: Turkey yesterday laid the foundation for a Formula One racetrack, with races scheduled from 2005, in a ceremony attended by government officials and Formula One supremo Bernie Ecclestone.
Turkish Prime Minister Recep Tayyip Erdogan expressed hope that the world racing event will bring much-craved revenues to his country's cash-strapped economy as he pressed the button to lay cement at the track, built in the Kurtkoy district on the Asian side of Istanbul.
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