Update 18 May 2015: The Cabildo has awarded the contract for the construction of the motor racing track to Kiti Trans SLU, an Italian company which will carry out the works in the name of Onda Rossa SL, in participation with the Italian business Axia SRL. The contract for the works involves an investment of some €30m, paid effectively by the allocation of a 35-year management deal for the Italians. As far as Tenerife is concerned directly, however, this projet is now on the starting grid, with works forecast to be completed in 21 months.
Original post 29 October 2014: It’s been delayed for a very long time, and has overcome hurdles of every type, but now it’s on the starting grid. The Tenerife motor circuit has finally received the go-ahead from the Canarian government. Nothing now stands in the way of tenders to run the track. With the utmost backing of the Tenerife Cabildo, the Circuito de Tenerife in Atogo near Granadilla is underway. It will be overwhelmingly financed by private initiative but apparently interest is extremely high. The track will be able to provide facilities for all sorts of motor racing on up to nine track formations allowing for everything from carcross to motor cycling to Formula One. The project is forecast for 2017, and the Cabildo sees enormous tourism advantages for Tenerife from the circuit, not least because it is near the island’s main international airport and its principal tourism infrastructure.