18.12.2006 SWEDISH AND BULGARIANS TO SET UP FLOATING HOTELS

Sofiaecho

Varna’s unit of military plant Terem will carry out joint Bulgarian-Swedish project for the construction of floating casinos, islands and hotels, as well as parts for space shuttles, Bulgaria’s Defense Minister Vesselin Bliznakov said.

Curently Terem’s plant in Varna produces marine arsenal, Dnevnik newspaper reported.
Bulgaria will take non-monetary part in the project, it will provide the field. The Swedish partner will be Oceanic Creations which possesses the rights over a technology for the building of floating constructions from a special material.

Bliznakov said that 60 million euro would be invested in the project. It was Sweden’s biggest investment in Bulgaria, which would lay foundation for an intense economic co-operation.
The project would open 1000 new work places, Bliznakov said.

The partners would register their joint company next week, Bliznakov said.

At the beginning Bulgarian experts would be trained in Sweden. Later the equipment will be delivered to Terem plant in Varna.

Swedish company chose Bulgaria as a partner because of the inexpensive labour, Bliznakov said.


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