Chennai, Jan 22 (Inditop.com) Two years after the launch of their Formula Ford 1600 car, MRF Tyres will conduct their International Challenge series over three consecutive weekends from Jan 30-31, offering a total prize-money of Rs 30 lakhs.

The so-called Festival of Speed will include three rounds of races in the Formula 1600, Super Saloons (cc to weight and Race Star Cup) and two-wheelers (Underbone, 130-165cc and 600cc) classes, according to Arun Mammen, managing director of MRF Tyres.

The Formula car, built by MRF’s chief tuner J. Anand of Coimbatore, is equipped with 1600cc Ford Duratec engine that develops 130bhp.

Providing details of the event, Anthony Rodricks, General Manager-Advertising, MRF, said: “The Formula racing challenge is by invitation only and the cars will be driven by those in the 15-25 age group with experience in either saloon car or any other formula racing. Each weekend will have one round of racing in each of the three categories. Each round will comprise of two races.”

Those qualified to drive will have to pay up Rs.two lakh per round, something that Rodricks said was “affordable” for Indian drivers. The amount includes fuel, service and tyres.

“The entry list would be finalized only next week, but there will be a few British racers,” he said.

MRF, who are re-entering full-fledged track racing after a lapse of 11 years, are hoping to develop the property into an Asian championship, said Rodricks.

As an add-on to the event, MRF has scheduled stunt riding by an American troupe on the second weekend (Feb 6-7).

The prize-money break-up is:

Formula 1600: Rs.14 Lakh, including Rs.5 Lakh for Championship winner. Saloon cars: CC to weight class – Rs.2,48,000. Race Star Cup – Rs.2,48,000. Bikes: Rs.3.5 Lakhs (600cc, Foreigners), Rs.2.48 Lakh (600cc, Indian bikes); Rs.2 Lakh each for Underbone, Group D (165cc) and Group C (165cc).