The National Electric Company (NEC) will invest 30 million euro in building new electric stations near the Bulgarian seaside.

The new stations aim at improving the quality of electricity provision in some of the major mountain and coastal resorts, Dnevnik newspaper said.

These include Sunny Beach, Sozopol and Pamporovo. The problems with the electricity provision stem from the rapid hotel growth in the resort regions.

NEC will cover only half of the expenses and the rest of the money will be provided through loans. NEC executive manager Mardik Papazyan said the project might be financed by the Swedish Investment Bank in accordance with the co-operation memorandum signed on June 12.

Procedures for the station construction have already started. Some of the executive companies include ABB and Greek E.ON. The Czech CEZ and the German Siemens have also shown interest in the project.