Sweden’s producer of floating hotels Oceanic Creations is mulling over a second investment in the country for production of light-weight construction panels. The company has launched a joint venture with Flotski Arsenal, which is part of the state-owned military holding Terem, for production of floating platforms and other high-tech components in the Black Sea city of Varna . The project is valued at EUR 60mn and is expected to create around 1,500 new jobs and annual revenues of around EUR 300mn after a period of around 5 years. The new undertaking of Oceanic Creations is discussed with the municipality of the northern city of Pleven and is projected to open 300 to 400 new jobs. The amount of the planned new investment is not unveiled yet.
Source: IntelliNews - Bulgaria Today