ZTE to provide IT solutions for luxury property project in Bulgaria

Reuters News
Posted: May 14, 2017 4:33 PM

SOFIA (Reuters) - Bulgarian Development Holdings Ltd.(BDHL) has teamed up with Chinese telecom equipment maker ZTE Corp for a 1.5 billion euro ($1.6 billion) entertainment and commercial complex near Sofia, BDHL said on Sunday.

BDHL, controlled by Chinese and Hong Kong investors, plans to launch the St. Sofia project, which will comprise a 2,000-room hotel, office buildings, a large aqua park, an exhibition center and an arena 20 km east of the Bulgarian capital in the second half of 2017.

"Because we shared a similar vision of embracing technology with ZTE, we decided to work together to build a smart entertainment and commercial complex," Albert Hung Chao Hong, Vice-President of BDHL said in a statement.

The partnership, under which ZTE's unit ZTEICT will provide IT solutions for the project, was signed during the Belt and Road initiative summit in Beijing, BDHL said.

(Reporting by Tsvetelia Tsolova; Editing by Keith Weir)