Geelong wants Australian GP

(GMM) With rival city Sydney eyeing Australia's grand prix, it has now emerged that yet another alternate region is keen to see formula one move away from Albert Park.

A consortium in Geelong, which is slightly less than an hour's drive south-west of Melbourne, is working on a $200 million plan to build a Circuit de Catalunya-style permanent track, the local newspaper Geelong Advertiser said.

A spokesman said the consortium did not want to reveal its plans yet.

"But the news in the papers (about Sydney's possible F1 bid) has made us announce things earlier," he added, explaining that a location for the site has been selected and that "some big offshore people" have pledged funds.

It is also believed that the site will be close to Avalon airport, which is already used for the arrival of formula one freight.

"We are presently in the process of providing more information for the State Government," the spokesman continued.