The first of several "major capital expenditures" is under way at Gateway International Raceway with the re-paving of the dragstrip in preparation for the return of the National Hot Rod Association Sept. 28-30, 2012.

"The asphalt is the original surface (1997) and we've worked with the NHRA to come up with what they want (for a surface)," said GIR owner Curtis Francois. "It was a complicated process but we got it done. The concrete is fine, but the asphalt needed to be replaced."

Machines were busy Friday grinding up the asphalt in preparation for the laying Saturday of the new surface.

Although Francois would not divulge an exact price tag, he did say it's in the "hundreds of thousands of dollars. It is the first major capital project at the track."

Francois also said he and his group of investors have been working on a "multi, multi-year plan" for the track and hope to have that finalized in the next month.

He also indicated he's had "good talks" with NASCAR and IndyCar for their return to Gateway, but nothing is imminent. No races were held this year at GIR after it was closed in November 2010 by previous owner Dover Motorsports, Inc.

IndyCar has not raced at the venue since leaving in 2003 when it was then known as the Indy Racing League (IRL). The NASCAR Nationwide Series was the last major event at Gateway stopping in October 2010.

Francois, 47 of St. Louis County, is a former professional race-car driver and St. Louis area land developer who is leasing the track for one year with the option to buy. He and his investors purchased the track in September.

"It's pretty obvious we're in this for the long run with the changes we've made (to the facility)," Francois said.