Sep.8 (GMM) A major redevelopment of Melbourne's Calder Park Raceway is taking place, but owner Bob Jane has played down reports the track could be an alternative host for the Australian grand prix.

The plans involve Calder upgrading to FIA standard with some state government backing, sparking rumours the Australian grand prix may no longer be held on the public roads around Albert Park.

"As far as I am concerned, Albert Park is the best venue for the grand prix and I have no plans to have formula one racing out here," Jane, a former touring car driver and now owner of a popular chain of tyre outlets, is quoted by the Brimbank Leader.

Jane organised non-championship F1 races at Calder Park between 1980 and 1984, before the world championship moved to Adelaide and subsequently Melbourne.

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