Indian builder still on track for 2011 race

NEW DELHI: Construction of India's Formula One track would not be affected by the global financial meltdown and it would be ready for its inaugural race in 2011, according to the head of the construction company building it.

"The progress is very nice...I'm absolutely, absolutely confident (it will be completed)," Samir Gaur, managing director of India's JPSK Sports Pvt Ltd, who are building the track, told media. "The track will be ready in 2011."

The company has been floated by Jaiprakash Associates, a diversified group with market capitalization of $2.8 billion that is controlled by Gaur's family.