TOURISM BAROMETER: Money needed for the development of Bulgarian tourism

The Sofia Echo, *with excerpts, May 2006

A lot of money is still needed for the development of Bulgarian tourism and this fact was proven by several things happening in the past week.

InvestBulgaria Agency executive director Stoyan Stalev on May 19 delivered a First Class Investment Certificate for an investment project to be implemented by Perelik Sports and Tourist Centre.

This is the third Bulgarian investor to get such a certificate.

The project envisages construction of an integrated system of winter and summer sports facilities, mountain accommodations and improvement of the infrastructure and spatial development in the land-use areas of Smolyan and the villages of Stoikite, Gela, Solishta, Stikul and Mougla (all in the Rhodope Mountains).

The new resort will have 55 km of ski runs, ski facilities, snow guns, 25 ski lift lines, shelters and cafeterias, ski equipment rental, indoor parking, recreation, sports and amusement spots, as well as hotels and vacation apartments.

Infrastructure would be built mainly on deforested and denuded land, and mostly in the lower-altitude parts, said Kiril Asenov, board chairman of Perelik.

The company will plant 35-40 per cent more trees than it will have to remove when laying the future state-of-the-art ski runs.

The project is financed by the company shareholders, which are Bulgarian and international financial institutions. Capital expenditures are planned at 255 million euro.

Stalev said that the state would have to invest heavily in the construction of roads reaching the future resort. He noted that Perelik would attract tourists from Greece and from all over the Balkans.

Invest in the developing area





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