Chinese Investors Plan to Spend EUR 270 M to Build Hotels, Marina, Airport, in Bulgaria

Business | January 29, 2016, Friday // 17:26
Bulgaria: Chinese Investors Plan to Spend EUR 270 M to Build Hotels, Marina, Airport, in Bulgaria Bulgarian Economy Minister Bozhidar Lukarski speaks at the economic and trade forum between the countries of Central and Eastern Europe and China, November 2015. Photo: Council of Ministers

Chinese investors plan to put some EUR 270 M into the construction of luxury properties and a cargo airport in Bulgaria, Bloomberg has reported.

An adviser to the projects told the newswire in Sofia on Thursday that a state-owned Chinese construction company planned to invest EUR 65 M into a project to turn a former Soviet-era military airfield near the town of Radomir into Bulgaria’s biggest cargo airport.

The investors plan to extend the runway to 3.1 kilometers, build a cargo and passenger terminal and add two train stations that would link up to the railroad to Greece, in the next two years, according to the adviser to the project, Ilian Scarlatov.

Scarlatov also told Bloomberg that a Chinese group planned to raise the capital of Thracian Cliffs golf resort, on the Black Sea coast.

The investment will enable Thracian Cliffs Golf and Spa Resort AD company to finance the construction of a seven-star hotel and villas, a 100-berth marina port with an adjacent village and a casino hotel in the next four years, he added.

Scarlatov has declined to name the Chinese investors until transactions are complete but told Bloomberg that he hoped both deals would be finalized in about three months and construction works might start by the middle of 2016.

Bulgaria's Prime Minister Boyko Borisov recently invited Chinese companies interested in EU markets to set up representations, logistical bases and production capacities in Bulgaria.

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Tags: Bulgaria, China, Chinese, investors, invest, Bloomberg, airport, marina, hotels, Thracian Cliffs
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