Hyderabad: Former Andhra Pradesh Chief Minister Chandrababu Naidu's dreams of bringing the Formula 1 car racing to the city is unlikely to see the light of the day at least for the next few years if the priorities of the new Congress Government are any indication.

Naidu's pet project has hit a road block after new Chief Minister Y S Rajsekhar Reddy made it clear, during a reply to the motion of thanks on Governor's address in the Assembly, that the Government has urgent and serious issues to address rather than spending a fortune on the racing expedition.

"We are not in a position to afford Rs 10,000 crore for a racing expedition which is an annual feature while our priorities are different and we have urgent and serious issues to address," Rao said.

The previous Telugu Desam Party (TDP) Government, after conducting the Asian Grand Prix athletics meets, National Games and the Afro-Asian Games, had taken up F1 Racing as one of the prime projects.

But after three rounds of talks between the F-1 team and State officials, the project was kept pending following the elections even as the Maharashtra Government announced its willingness to host the racing event.

State officials had then quickly reacted stating that the agreement had a "lock-in period" during which the F1 team cannot negotiate with any other party without the consent of Andhra Pradesh Government.

The project received the first jolt when Rao announced after the first cabinet meeting that all decisions taken by the TDP Government in the past one year would be reviewed.