One of the mysteries in Formula 1 at the moment is how the people in Austin are intending to get everything built in time to hold a United States Grand Prix in 2012. On the face of it that is almost impossible, as the planning process takes a long time. However, there are ways around such things, particularly if the circuit is built in an area where other planning permits have been granted for development. This does not mean that a new project will be nodded through, but it does mean that much of the groundwork will have been done. Tavo Hellmund, the man behind the project, is still saying nothing at the moment. Rumours in Austin suggest that Hellmund has foreign investors. The contract says that the race must happen in 2012 and if Hellmund does not meet the various deadlines there are penalty clauses, although Ecclestone says that “I wouldn’t want to use them”.

No-one knows the planned location of the circuit, although Hellmund has let slip that the land has been acquired and that the permit process is underway. It has been suggested in the US that the track will be located in what is known as the Trans-Texas Corridor, which will carry roads, railways and utility lines around the population centres, providing better access not just for the cities involved but also linking up with the Mexican road network in the south and the US freeway system in the north, in order to improve the flow of goods in the North American Free Trade Agreement (NAFTA) zone, which includes the United States, Canada and Mexico.

It is interesting to note that Texas Highway 130, which is part of the Trans-Texas Corridor, loops to the east of Austin and then cuts south, opening up new land for future development, which will have easy access to the city. The highway is largely funded by a private organisation called Cintra-Zachry, a partnership between the Spanish toll-road builder Cintra, a subsidiary of the giant construction firm Ferrovial, and the Texan firm Zachry, which is headquartered in San Antonio.

The financial plan for the toll road envisages revenues of around $100 billion in the course of the next 50 years. The money will be used to pay off construction costs and will then pay equity partners a guaranteed 12% profit (after tax) on the money invested. It is quite possible that the circuit will be located next to the section of Texas 130 which runs from Mustang Ridge to Seguin, to the south of Austin. The construction companies could well be involved in Hellmund’s plans as they know an event will bring them enormous benefits, in much the same way as the Jaypee Group is building a circuit in India, in an effort to draw business to its other developments in the New Delhi region.

It is perhaps worth noting that Zachry is involved in racing as the sponsor of a car in the NASCAR Camping World Truck Series.

Hellmund and Texas State comptroller Susan Combs are expected to attend this weekend’s British Grand Prix.