capetownguy
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After they took forever with providing support for the CTICC, delaying the process and putting the CTICC expansion at risk, Rasool is now delaying R4 billion investment by private investors for the building of the F1 race track in Cape Town saying he is too busy.
The CTICC had passed every test possible, once labelled a white elephant during construction, its created tons of jobs, and hosts 1 in every 4 international meeting in Africa, besides that Cape Town is ranked the top convention destination/venue in Africa.
Why oh why do the ANC delay important projects?
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Cape Town's F1 bid delayed
Cape Town's F1 bid delayed
08/04/2008 14:55
The proposed bid to host an F1 Grand Prix in Cape Town has received another setback, with Western Cape Premier Ebrahim Rasool said to be "too busy to meet with investors".
An intergovernmental task team was established more than a year ago to explore the feasibility of hosting a Formula One race in Cape Town after an international consortium had offered to invest R4 billion in the venture.
However, it is now being reported that Western Cape Premier Ebrahim Rasool is too busy to meet with the consortium. He has reportedly also failed to release the task teams's feasibility study findings.
The consortium also claims that Rasool pledged his support for the project in January 2007, although these investors have not received any further communication from the Premier's office. It is now concerned about the "evident opposition" to the project from the Western Cape Province.
In its bid, the SA Grand Prix Corporation said it did not require government funds to host the race in Cape Town.
It proposed acquiring land close to the Cape Town International Airport and while some of the land earmarked belongs to the provincial government, the consortium claims this was promised to it by the City.
Simon Grindrod, Cape Town's mayoral committee head for economic, social development and tourism in his statement to the press noted that Cape Town and the Western Cape were "on the brink of losing the project as frustrated investors consider taking their money and jobs elsewhere".
According to Grindrod, similar international events demonstrate how a city - and country - benefits from the economic spin-offs following the hosting of a world-class sporting event such as an F1 race.
"A simple yes or no from the (Western Cape) Province would suffice," Grindrod continued. "The investors can then make alternative plans. Such delays in decision-making are very bad for investor confidence in the Western Cape."
The CTICC had passed every test possible, once labelled a white elephant during construction, its created tons of jobs, and hosts 1 in every 4 international meeting in Africa, besides that Cape Town is ranked the top convention destination/venue in Africa.
Why oh why do the ANC delay important projects?
___________________________________________________________________
Cape Town's F1 bid delayed
Cape Town's F1 bid delayed
08/04/2008 14:55
The proposed bid to host an F1 Grand Prix in Cape Town has received another setback, with Western Cape Premier Ebrahim Rasool said to be "too busy to meet with investors".
An intergovernmental task team was established more than a year ago to explore the feasibility of hosting a Formula One race in Cape Town after an international consortium had offered to invest R4 billion in the venture.
However, it is now being reported that Western Cape Premier Ebrahim Rasool is too busy to meet with the consortium. He has reportedly also failed to release the task teams's feasibility study findings.
The consortium also claims that Rasool pledged his support for the project in January 2007, although these investors have not received any further communication from the Premier's office. It is now concerned about the "evident opposition" to the project from the Western Cape Province.
In its bid, the SA Grand Prix Corporation said it did not require government funds to host the race in Cape Town.
It proposed acquiring land close to the Cape Town International Airport and while some of the land earmarked belongs to the provincial government, the consortium claims this was promised to it by the City.
Simon Grindrod, Cape Town's mayoral committee head for economic, social development and tourism in his statement to the press noted that Cape Town and the Western Cape were "on the brink of losing the project as frustrated investors consider taking their money and jobs elsewhere".
According to Grindrod, similar international events demonstrate how a city - and country - benefits from the economic spin-offs following the hosting of a world-class sporting event such as an F1 race.
"A simple yes or no from the (Western Cape) Province would suffice," Grindrod continued. "The investors can then make alternative plans. Such delays in decision-making are very bad for investor confidence in the Western Cape."