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SINGAPORE-BASED event marketing and exhibition provider, Pico Art International, announced on Thursday that they have been awarded the contract for the setting up of temporary seating and hospitality suites for some of the sites around the 2008 Formula One (F1) SingTel Singapore Grand Prix circuit.
Pico will install the grandstands and corporate suites at Turns 1, 2 and 3 and the grandstands at the Padang for the inaugural street race to be held in downtown Singapore on Sept 28 next year.
The contract value is estimated at $5 million annually, over a period of 5 years, totalling approximately $20 million.
Pico and race promoter Singapore GP are also exploring other possible sites to locate more grandstands and corporate hospitality facilities around the circuit.
Pico said its primary challenge would be the installing and tearing down of these structures within a very short period of time.
The logistics involved in coordinating the work and minimising disruption to the public will also require meticulous planning and strong execution, it explained.
Executive Director of Pico Art International, Ms Jean Chia, said: 'It's a feather in the cap for Singapore to stage the Grand Prix and we are indeed very pleased to be given this privilege.'
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