A MULTI-MILLION-pound racecourse could be built on land between Hyndburn and the Ribble Valley - thanks to an international business consortium.
It is part of a plan by the consortium, which has financial backers in the Middle East, to build four racecourses in venues which also include Sri Lanka and Shanghai.
The proposed course would be sited on fields north east of Altham and south of Simonstone.
It is thought the site would include a five-star hotel complex as well as tourist attractions in a bid to encourage visitors.
It is hoped that initial plans for the facility could be submitted within a year and if they were passed the course could be built within three years.
If the plans get the go-ahead it would be the first racetrack to be built in the country for the past 100 years.
Dennis Taylor, chief executive of the Lancashire Economic Partnership and East Lancashire Partnership, said: "About two years ago when I first took up my post I was in discussion with an international consortium that I had worked with before.
"This consortium has since broadened itself to become worldwide, with big funds in place from the Middle East.
"East Lancashire has been looked at as a possible site for the racecourse because when you look at it there is a big gap between courses in the North and this is an area worth using.
"The site would have an educational facility of some sort to try to attract visitors and the consortium would run it."
But it is thought that if the business consortium runs into problems with plans for any of its four racecourses it will pull the plug on the East Lancashire project.