The resort village of Kamchiya, located 28 km southward from Varna, will attract significant investment to the tune of between 200 and 250 million euro over the next two or three years, Avren municipality mayor Krassimir Todorov said, as quoted by Bulgarian news agency (BTA).

The projected investment will add between 12 000 and 15 000 new beds to the capacity of the holiday compound, he added.

A new vacation complex will open doors in close proximity to Kamchiya village this year. It will deliver 200 apartments and 70 studios. Finance is secured by a British company, Todorov told media, without disclosing its name.

Investments will not be limited to tourism alone, with construction on the spaghetti factory in the nearby village of Zdravets due start in April, the mayor said. The investor is Korean company Sammi Sound Tech, which plans to export its produce to European markets.