Indian company starts 70M EUR project near Sozopol

Three Indian entrepreneurs, who have announced earlier their intention to invest more than 70 million euro in building a 30 000-residents town near the Sozopol’s village of Rossen, have had to suspend their plans, Standart daily reported on February 19 2008.

The large-scale undertaking has been put on hold after local farmers filed a lawsuit with the Bourgas administrative court against the changes to the village's zoning plan.

The Green City, projected to spread 350ha, would feature dozens of deluxe five-storey hotels, residential complexes and single-family houses with their own swimming pools. A special area will be allocated for breeding animals, growing crops and flowers – thus offering original pastime to holiday-makers who will have the opportunity to acquire skills in animal husbandry and land-tilling.

Balma Ltd is the investor behind the project. The firm is owned by Indian businessmen Pramod Bateja, Bal Singh Sidhu and Gurmail Singh Mahal, and their Bulgarian partner is Assen Zlatev, Bulgaria's former Olympic and world weightlifting champion. 

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