Iberdrola Inmobiliaria has decided to build up the Koral Beach Elite tourism complex in Bulgaria, along the south coast of the Black Sea.

With a total investment of €44.6 million, this will be the most crucial operation so far for this subsidiary of the Spanish electricity company.

The proposal comes as part of the company’s foreign growth activities planned within its 2008-2010 Strategic Plan, and was presented in Sofia under the banner of Tsarevo, a tourism destination and an exclusive investment, during an event held in the Hilton Hotel in the Bulgarian capital.