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Projects South Of Burgas For 350 Million Euro Suspended

Construction investment programmes for a total value of 360 million Euro have been temporarily suspended because of the economic crisis.This relates to objects south of Burgas, concerning the tourist towns of Sozopol, Primorsko, Tzarevo, Ahtopol as well as the nearby camps in-between them.Investors have suspended the financing, which means that a new wave of construction workers will go on the market, while the firms in the industry will continue to have serious liquidity difficulties.Six village settlements, three apartment complexes, hundreds of new buildings, as well as 12 hotels in construction have temporarily suspended all activity.This does not include the highly publicized project of the businessman and owner of PFC "Levski" Todor Batkov, which planned the construction of a small town for nearly 20 000 people south of Kraimorie near the sea strip.It was announced that this investment is for the amount of 450 million Euro. It would have opened temporary and permanent work places. Because of the raging crisis and the decrease of the flow of foreign investment, however, this project is also postponed for the future.