The funding should help ensure the track reaches the required FIA Grade 2 specification ahead of the event on November 4 to 6.
Chairman and A1 Team Australia principal, 1980 World Formula One Champion Alan Jones, said: “I have absolutely no doubt this will become Sydney’s biggest annual international sporting event, delivering huge economic benefit to the city and the state.
"Images from the A1 Grand Prix of Nations at Eastern Creek will be beamed to a potential worldwide audience of over 4 billion people.”
New South Wales Minister for Tourism, Sport and Recreation, Sandra Nori, said: “This is great news for western Sydney - driving tourism and business into the city’s heartland – it will be worth up to $10million for the NSW economy."
The event will see 25 national teams converge on Eastern Creek, which will be the fourth event of 12 globally.
Fox Sports and Network Ten will broadcast the event and the global series live and via delayed telecast respectively.
