The local company Rila Sport looks for partners to finance a BGN 900mn (EUR 460mn) project to expand the mountain resort of Panichishte. Rila Sport is planning to cover 16% of the financing by own resources. The facility would comprise 100 kilometres of ski runs and accommodation facilities for up to 10,000 people. The project should be completed by the end of 2016. Rila Sport has not received approval from the environment authorities in the country. About three years ago, Rila Sport announced plans to invest EUR 30mn in construction of 14 new ski tracks and many ropeways in Panichishte. The project was to be run in a partnership with the municipality of Separeva Bania and aimed at turning the complex into one of the major ski resorts in the country along with the rapidly expanding ski facilities in Bankso, Borovets, and Pamporovo. The ski resort can benefit from its proximity to the capital city Sofia (some 70 km) and the thermal waters in Separeva Banya that create favourable conditions for combining spa and ski tourism.