Abu Dhabi is set to help Bulgaria join the formula one calendar.
According to reports, an economic cooperation agreement was signed this week between the Bulgarian economy minister and the Emirates Associated Business Group, a state-owned Abu Dhabi company.
Standart News and Sofia news agency Novinite claim the agreement involves construction of a formula one circuit at the former air base at Dobroslavtsi, 15 kilometres from the Bulgarian capital.
The agreement would see Abu Dhabi pay for construction of the circuit, with the land provided by Bulgaria.
The press office of the Bulgarian economy ministry confirmed the news.
2012 is slated as a possible grand prix debut date, but the reports said a proposal is late being lodged with the FIA.