Mumbai: The designers of London’s Olympic stadium and the new layout at Britain’s Formula One Silverstone circuit have won a contract to plan a motorsport venue in Mumbai.

Capita Symonds, Populous and Delhi Integrated Multi Modal Transit System Ltd said they had won a contract “to prepare the master plan and business case for a new multipurpose race circuit and regeneration project" in the city.

“The venue will be designed and constructed to meet the highest level of Grand Prix standards," Capita Symonds said in a statement on its website on Monday.

The announcement comes as India prepares to host its inaugural Grand Prix this weekend at a specially-built $400 million track near the capital New Delhi.

Buddh International Circuit, developed by Jaiprakash Associates Ltd. for the FormulaOne Grand Prix, in New DelhiPrashanth Vishwanathan/Bloomberg

It would then establish a business plan based on demand and feasibility.

Mumbai, on India’s west coast, is the country’s financial and entertainment capital and is home to an estimated 18 million people, more than half of whom live in slums.

Land is at a premium in the city, with rates comparable to, and even more expensive than, some of the most expensive real estate in the world. Chronic overcrowding also means that infrastructure is stretched to breaking point.

Capita Symonds said the consortium’s analysis and assessments “will be undertaken considering long-term financial, social and environmental viability".

“Issues such as accessibility, traffic management, sustainable transport links and infrastructure gap assessments will also be addressed," it added.