The Guateng Motorsport Company was launched at Kyalami today, with the aim of securing major events - including Formula One - back to the former home of the South African Grand Prix.
Speaking at a press conference, recently-appointed Guateng Member of the Executive Council Mandla Nkomfe, said: "We are delighted that the day has finally come where we are able to share with you our vision for the future of motorsport in Guateng, South Africa.
"Gauteng has the ability and the competency to deliver world class events with excellent facilities and it's high time we bring these events back to the country for our people."
Guateng is looking at upgrading Kyalami's facilities, and it is understood the track has already had recent visits from famed F1 track designer Hermann Tilke and F1 race director Charlie Whiting.
It is unclear yet, however, whether the F1 plans involve a revamped Kyalami or a totally new track that could be build on land four miles away from the current track.
Kyalami already has plans for an A1GP race and will also host a round of the World Superbike Series next year.
Nkomfe added: "We plan to have a busy year with many exciting events to look forward to as part of our commitment to develop motorsport in Gauteng."
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