Spanish infrastructure firm Acciona and French engineering company Eiffage have reportedly won the contract to build the Ifema Madrid circuit for motor racing’s Formula 1 (F1) Spanish Grand Prix ahead of its relocation to the country's capital next season.
According to Spanish news outlet Economia Digital, the two firms won the tender process after submitting a joint bid to build the semi-urban track in time for next season’s race for €83 million ($89.5 million).
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Other bidders included Dragados, part of infrastructure giants ACS Group, and Spanish construction and engineering company Ohla. Earlier bids from fellow construction companies Ferrovial, Sacyr, and FFC were withdrawn due to the construction deadlines being too tight, according to reports.
The Spanish Grand Prix – currently held in Barcelona – is slated for September 6 next year, giving the companies a limited timeframe to complete the project.
Madrid’s city council has already said that planning permission for the works could be approved by the end of April, allowing work to begin in the second half of the year.
F1 announced last January that Madrid would become the new home of the Spanish Grand Prix from 2026 until at least 2035, with the race to be held at a circuit built around the Ifema Madrid exhibition center close to the city’s airport.
The move represents a huge blow to organizers of the Barcelona race, with the Circuit de Barcelona-Catalunya circuit having played host to the Spanish Grand Prix since 1991.
The last year of that venue’s hosting contract is also 2026 – meaning that either Spain will host two races in one year or, more likely, Barcelona will cancel its contract a year early. The track is also home to motorcycling's Catalan Grand Prix in a deal running through 2031.
The Ifema Madrid circuit, meanwhile, is set to be 5.47 kilometers in length, and will feature 20 corners, a “premium paddock building with a new race tower and office spaces,” as well as VIP hospitality and entertainment areas.
The venue is projected to be able to host over 110,000 fans each day across its various ticketed areas, while F1 has said plans are in place to grow that figure – over time – to 140,000 daily. This would make the Madrid circuit one of the highest-capacity on the F1 calendar.
F1 has claimed that the race is expected to generate €450 million ($489.7 million) for the Madrid economy each year and that the hosting proposal from Ifema “received widespread support from national, regional, and local government.”
