Discussions have commenced on the construction of a 5.6 km long Gonpri Formula One race track in the Hambantota suburbs.
According to the Sunday Times, talks between a group of Japanese and Spanish investors have begun.
It is also proposed to construct the relevant runway on a government land in Hambantota.
It is said that racing cars are being prepared for landing at the Hambantota port and that the athletes participating in the competitions will be brought through the Mattala Airport.
The report further states that this is a BOI project that is being implemented using local resources and local knowledge.