The 100,000 capacity Algarve International Circuit, commonly referred to as Portimao Circuit, is a 4.692km race circuit located in Portimão, Portugal. With a total cost of €195 million, the project includes a karting track, technology park, five-star hotel, sports complex and apartments.Construction was finished in October 2008 and the circuit was homologated by both the FIM on 11 October 2008 and the FIA two days later.The circuit was designed by Ricardo Pina, Arquitectos. In October 2010 the teams agreed to add the Portimao Circuit to the Formula One testing roster along with Bahrain.In September 2013, the company that manages the circuit, Parkalgar Serviços, was taken over by Portugal Capital Ventures, which is a Portuguese state-owned venture capitalist, effectively placing the circuit under state management. The sale was forced by the debts accumulated by Parkalgar Serviços, believed to be approximately 160 million Euros.The circuitThe circuit hosted the final round of the World Superbike Championship on 2 November 2008. On 9 June, the track was confirmed to host a round of the 2008-09 A1 Grand Prix season. The race was set for the weekend of 12 April 2009. On 10 October 2008, the Le Mans Series announced a 1000 km night race to be held at Algarve on 2 August 2009. On 5 November 2008, the FIA GT Championship announced and 7th round of the 2009 season will be held at Algarve on 13 September 2009. A Formula One test session, with the McLaren and Honda teams participating, was scheduled for 15–17 December 2008. Ferrari also ran at Algarve. Toyota also tested at the circuit on 20 January 2009 in the first outing of their new TF109 chassis. The circuit will also host the final round of the 2009 GP2 Series season in September 2009. From 2010 it will host a round of the FIA World Touring Car Championship.