The Singapore Sports Council (SSC) yesterday confirmed the termination of SG Changi's contract to build and operate the Changi Motorsports Hub, after serving notice to the consortium on Dec 7 to end its project delivery agreement (PDA).
Speaking at a press conference yesterday, SSC chief executive officer Brigadier-General (NS) Lim Teck Yin said both parties have met and are "working towards a mutual termination arrangement" by the end of the month.
Singaporeans looking forward to catching races like the MotoGP at the country's first permanent track will have to wait to find out if the project will be restarted.
SG Changi, a Japanese-led consortium, could not overcome financial difficulties to pull off the project and BG Lim said the SSC will do a post-mortem and talk with industry players, including the two bidders who lost out to SG Changi, before deciding whether to go ahead with the project.
Singapore Agro Agriculture (SAA) and Haw Par Corporation, the two bidders who were in the frame, indicated yesterday they were still interested in the project.
But the terms of any new tender has to be right as economic conditions have changed.
ORIGINAL SOURCE
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