Russian GP circuit 'well on track'

"It's well on track," Dmitry Chernyshenko, president of the Sochi organising committee, is quoted as saying by Reuters.

"It was decided that the IOC will review the final feasibility study at the forthcoming executive project review in May and they will see the real construction design document to realise the overlapping with the Olympic infrastructure.

"It's a great project in terms of creating the additional legacy and to fulfil the Olympic Park with the post-Games activities."

He also denied the construction of the circuit will hamper preparations for its own Olympic games that year.

The International Olympic Committee said earlier this year that if there was any danger of the F1 event impacting on his Games then it could lead to the postponement of the grand prix.

"This (F1) is a great attraction to speed up and attract the potential owners of the commercial property that will be built," said Chernyshenko.

"We are going to build about 20,000 rooms for the Games, some will be apartments. They should be on sale with some clear reason why people should buy them. Such regular events like Formula 1...will attract the commercial buyer.

"There are pure endorsement and mutual benefits for both Olympic Games and Formula 1 project. It (the race) will not impact on the timeframe of the preparation for the Games."