Autosport.com reports Silverstone's owners have been creating the new track since securing an extension of its contract for the British Grand Prix in a deal late last year. The Fédération Internationale de l'Automobile gave the track its official circuit licence earlier this week.
Autosport.com said that it will be the quickest track on the Formula One calendar and features some spectacular new sections.
HRH the Duke of York attended the opening as a special guest and as an honorary member of the British Racing Drivers Club.
“I am deeply honoured about being asked to be an honorary member of the BRDC - although I have no qualifications,” he said.
“The real reason I am here to support Silverstone and the BRDC is because high performance engineering is vitally important for the British economy.
“Motorsport is right at the pinnacle of this industry, so it is through events like F1 and Superbikes that we can demonstrate our expertise.
“And I can say I hope the future will continue to be rosy not just for motorsport in the UK but also high performance engineering as a whole.”
