Russian Company to Build a Holiday Complex near Kamchia

Russian company is to start the construction of a holiday complex with 2,000 beds near the mouth of the Kamchia river. The project has to be launched this autumn. The investor is "SOK - Kamchia", while the funds will be entirely ensured by Moscow municipality, which bought 13 ha of state-owned land. The project got personal approval of Moscow mayor Yurii Luzhkov. The investors are owners of the Longoz hotel which will be renovated. The snack-bar will be turned into a restaurant with 200 seats and the hotel will get a certificate for 4-star quality. Spanish and German companies also intend to build there. A total of $100 million will be invested in the project.

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