Italian investors advance with EU-funded golf course project near Arad

Bellavista Golf Villas & Resort, owned by Italian investors, intends to build a golf course and sports center in Fantanele, Arad county in Romania, a project which is expected to be financed through European funds. The project is estimated at around EUR 15 million and the EU funding should cover 70 percent of the financing needs. The 18-hole golf course will join tennis courts, a sports center with a pool, according to the company. The company is currently looking for construction contractors and the contract will be awarded through open bid. The deadline for submitting offers is February 14, 2011. According to previous media reports, the project is also expected to include a five-star hotel and a 50-villa residential compound. The project will be called Butterfly Royal Golf Resort. editor@romania-insider.com