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Primorsko holiday development
Dnevnik Daily, 13.06.2005
Albena AD, the travel company operating the eponymous Black Sea resort, will invest 50 mln levs in the construction of a holiday village near Primorsko, located some 55 km south of the port of Bourgas, it emerged after the general shareholders meeting held on Saturday, June 11. The new 4-star complex will sprawl on 70 ha and will have 6,000 beds, thrice as much as the capacity of the current on-site accommodation facilities. Construction is expected to get underway in 2007 with delivery seen by 2010-2012. The project will be financed with Albena's own funds and bank loans. In addition to the Primorsko development, Albena AD has also slated 12 mln levs for the reconstruction and category upgrade of ten 3-star hotels in the Albena resort. The shareholders also approved a 0.40 lev dividend for 2004. Albena AD logged a net profit of 16.223 mln levs last year. see source
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