I did some more research and found what I needed so I'm posting some info for anyone interested.
To get to the Circuito Ricardo Tormo from Valencia, take the C3 commuter train direction Utiel from Estacio del Nord. On race day the train stops at the race track which is near Cheste. The trip takes about 25 minutes.
This is the last MotoGP race of 2002 and although the championship has already been clinched, 2nd place is still undecided. This is an interesting year for MotoGP racing since a new category of motorcycles is included.