Remember Stefan GP? The Serbian-based squad that was trying to get into Formula 1 but was not allowed to even when US F1 announced its withdrawal? The team even went on to secure parts and equipments from Toyota, a company that is no longer in Formula 1.

Well the team’s interest in Formula 1 is even greater now than ever. Not only it has submitted an application to the FIA for a participation in 2011 the team which is run by Zoran Stefanovic revealed plans to build the “Stefan Technology Park” near Belgrade, Serbia.

This technology park is expected to house the team’s headquarters and a Formula 1 circuit that will be “suitable for competition”. Stefan GP announced that an agreement has been signed between the team, AMCO Corporation and the Mayor of Stara Pazova (Stara Pazova is a town in Vojvodina, Serbia).

It has also launched its official website and you can even see a countdown timer which indicates the team’s next event which is of course the 2011 Formula 1 World Championship. Will we see a Serbian Grand Prix sometime in the future? The team is definitely ambitious and I hope that it can turn its plans into reality.

But first things first, it has to secure a Formula 1 entry. The team will now compete against Epsilon Euskadi and Durango for the 13th team slot and has said that it wishes to join the sport with 1997 World Champion Jacques Villeneuve. It is also in talks with other drivers such as Kazuki Nakajima, Narain Karthikayan, Ralf Schumacher and rally driver Sebastien Loeb.