Spain's Ferry Group To Invest EUR 500 M in Bulgaria

Business | April 17, 2007, Tuesday // 00:00| Views: | Comments: 0
Bulgaria: Spain's Ferry Group To Invest EUR 500 M in Bulgaria Ferry Group president Manuel Ferri Sanchez presented the details of the two investment projects in Sofia. Photo by Maria Anguelova.

Spanish developer Ferry Group announced plans on Tuesday to invest more than EUR 500 M in two projects in Bulgaria, in a country club and renewable energy sources, respectively.

The Spanish company will invest EUR 400 M in the Katina country club near capital Sofia, which will feature a golf club and luxury villas.

Ferry Group hopes the 400,000 square meters country club will draw tourists from Spain and other EU countries when it is completed.

The other project, Green Energy Bulgaria, will focus on renewable energy sources, specifically fast-growing Pawlounia trees, used in the production of biomass fuels.

Ferry Group will plant the trees on 6,000 hectares and will later build biomass factories close to the plantations.

Both projects have qualified for tax breaks under Bulgaria's programme to encourage foreign investment.
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