Autódromo Internacional do Algarve

The Autódromo Internacional do Algarve is a racing circuit of 4.692 km (2.916 mi) located in Portimão, Algarve, Portugal. It lies about 16 km from the center of Portimão, in the parish of Mexilhoeira Grande. With a total cost of 195 million Euros (approximately $ 250 million), the project included a go-kart track, a technology park, a five stars  hotel, a sports complex and apartments

History
The construction was completed in October 2008 and the circuit was homologated by the F.I.M to 11 October 2008 and the FIA two days later.

The government of José Socrates gave him a status of Draft National Interest, the opening was attended by the Minister of Economy, Manuel Pinho.

The circuit hosted the final round of the World Superbike on November 2008. On June 9, the track has been confirmed to host a round of the Season 2008-09 A1 Grand Prix.

The race was scheduled for the week-end of April 12, 2009. On 10 October 2008, the Le Mans Series announced a night race 1000 km Algarve August 2009. The November 5, 2008, the championship FIA GT announced the calendar for 2009 and the 7th round of the season will be held the September 13, 2009 in the Algarve.

A test session of Formula 1 with McLaren and Honda to participate, was scheduled for 15 to 17 December 2008. Ferrari also considered doing tests in the Algarve. Toyota tested the circuit at January 20, 2009 at the first appearance in the Chassis TF109. The circuit will receive the final proof of the Season 2009 GP2 Series.

On April 4, 2009, Max Mosley said that given the quality of the Algarve circuit this could integrate the World Formula 1 when it reaches an agreement with the management company of the Formula 1.

The driver Filipe Albuquerque of A1 Team Portugal noted that there are great downhill and a right turn after the main straight. He also commented that the track is good for passing because the circuit is large.

It has been confirmed that one of the curves of the circuit would be given the name of the motorcycle rider Craig Jones, team Parkalgar, who died in an accident in a motorcycle race at Brands Hatch in 2008.

Monument in honor of Craig Jones
On 22 October 2009 occurred at the roundabout access to the racetrack, a ceremony of homage, with exposure of a full-size model of a statue, created by the sculptor Paula Hespanha, representing Craig Jones on his motorcycle after passing by the Target. This will be the centerpiece of a monument, already partially built, which also includes the architectural arrangement of the racecourse roundabout B, authored by Paula Hespanha and Manuel Pedro Ferreira Chaves. The monument is a sculpture landscape, representing the Straight Goal of a racing circuit, which extends to the parking lot of the main grandstand. This large-scale plastic intervention serves to frame the statue but also an approach that will allow access to the pedestrian statue.

The representative Speedway and Parkalgar, Paulo Pinheiro, said: "It is a very special thanks to Craig Jones will be forever immortalized in our memories. Want to keep alive This honor admiration and respect for the work of Craig in motorcycling world." "This statue will ensure that Craig Jones never be forgotten."

The unveiling of the statue, marble and stainless steel, was expected in 2010. If it is completed in 2011, this is the only statue in the world, in stone, representing a bike.

Financial Problems
In May 2012, it was reported that the racecourse is on the brink of insolvency. The consortium joined Siemens, Ensul Meci SPIE and forward an application for insolvency Parkalgar-Technology Parks of Sport SA. At issue is a debt initial € 1.6 million, which amounts to 2.6 million in interest arrears.