State govt yet to decide on organising Formula E race in Hyd

Hyderabad: in 2023, under the auspices of the Federation International Automobiles (FIA), the calendar for the management of the Formula E-Prix Car Race was announced, including major cities in 13 countries around the world. India was selected for the first time and Hyderabad was made as the venue. As it was the first ever Formula E-Race in the country, the then state government entered into an agreement with Greenco, which came forward as a promoter to manage it.

Accordingly, a street circuit track of 2.75 km with seven turns was designed and arranged around NTR Garden on Hussainsagar in the heart of Hyderabad. The then government took this race ambitiously. Greenco, which is the promoter of the car race, made the arrangements at the international level, and the entire management cost was borne by the company itself. HMDA has taken up only track arrangements.

Federation Internationale Automobiles has once again selected India for the 2024 calendar schedule of the Formula E-Prix car race.

It has been decided to hold this race on February 10, 2024 at Hyderabad. Accordingly, on October 2023, an agreement was made with the municipal department of the then government. However, as the deadline for the race is approaching, the arrangements have not yet started.

A company has come forward as a promoter for the management and arrangements of the Formula E-Car Race held on February 11, 2023. HMDA has borne the cost of about Rs.5 crore for the construction of the track and other infrastructure. All other management arrangements are taken care of by the promoter company. It is learned that no organization has come forward to organize the car racing to be held on February 10, 2024.

It is reported that the state government has to make arrangements for the car race. Formula E-Prix car race track, racing management, necessary arrangements, marketing, campaign and providing facilities for racers from different countries are all to be undertaken by the state government. It is known that it is estimated that about Rs.200 crores will be spent for this.

According to the instructions of the then government, HMDA has already paid up to Rs.50 crore to an organization to make arrangements for the second Formula E-Race. In the State Finance White Paper recently tabled in the Assembly, the government has declared that the state treasury is bankrupt.

In this context, is the government interested in organizing the Formula E-Race? Doubts have arisen whether the cost of another Rs.150 crore will be borne for the management and arrangements of the race.

While the fame of Hyderabad went to all corners of the world when a street circuit was organized on the banks of Hussainsagar, at the same time there was criticism for organizing a car race in the heart of the city causing traffic problems for the city dwellers. In this situation, there is interest in which direction the new government will lean.

It is reported that the representatives of FIA from different countries met CM Revanth Reddy and discussed the organising and arrangements of the car race. However, the government has asked the FIA to provide details on how the holding of the Formula E-Prix car race will affect the economic development of the state.

The organizers are worried whether it will be possible to explain to the government in this short time and whether the government will agree to conduct the race. However, it is reported that the government administration has announced that the Indian Race League is scheduled to be held on November 4 and 5 at the Hussainsagar street circuit, but it will not be able to support the race during the election.

With that, the Indian Race League, which was to be held in Hyderabad, was canceled and shifted to Chennai. When the race league time was approaching, the league administrators complained that they had suffered a serious loss.