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New Bulgarian mountain resort to absorb 255 mln euro
Updated: 2006-05-24

New Bulgarian mountain resort to absorb 255 mln euro

The InvestBulgaria Agency issued Friday a First Class Investor certificate to local company Sports and Tourism Center Perelik for its investment project of the same name.

Under the large scale project, the investor will deploy facilities for winter and summer tourism and will upgrade the infrastructure in the city of Smolyan and the villages of Stokite, Gela, Solishta, Stikal and Mugla, all in the Rhodope mountains, South-western Bulgaria.

The resort development will feature ski runs with a combined length of around 55 km, snow canons, 24 ski lifts, shelters and ski rentals, roofed parking lots as well as accommodation and leisure facilities and areas for recreation activities as varied as tennis, swimming, caving, trekking and mountain-biking. A golf course and a congress hall will be added at a later stage of the project

InvestBulgaria chief Stoyan Stalev noted the need for government investment in the resort access roads, especially the road link with the south-lying Greece.

The project, backed by local and international financial institutions, envisages capital expenses to the amount of 255 mln euro. Investment in the first 3 years will total 94 mln euro. The investor is ready to kick off the project this fall.(Dnevnik)

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