The construction of the Dracula Land theme park near Sighisoara and the programme for touristic development of the area would cost some 40 million euros, Tourism minister Dan Matei Agathon said on Sunday.
"The Dracula legend exists, like it or not. It is stupid to have this legend exploited in very many countries, but ignored in its homeland. It is stupid to go all the way to Switerzland to buy Dracula watches and wallets, while this country has nothing to do with Dracula. It is stupid that the plastic teeth sold in Germany should be made in Turkey and not in Romania. The legend is there, I just deliver it wrapped up and with a nice ribbon on top," Agathon said.
To fund this project, "Fondul pentru Dezvoltare Turistica Sighisoara" (Sighisoara Touristic Development Fund) company, especially set up to manage the project will issue 28 million euros in bonds. The issue will be brokered by Banca Comerciala Romana (Romanian Commercial Bank-BCR) along with Active International Brokerage Company and two German banks.
The bonds will mature in three years, with the possibility of accruing interest, will be underwritten by an insurance company and may be converted into shares upon maturity, according to Marius Stoian, personal advisor of the Tourism minister and manager of the Dracula Land project. The bond issue will target both domestic and international markets.
The rest of the financing would come from direct investments attracted by the Sighisoara City Hall, Stoian said. Dan Matei Agathon pointed out that the theme park development project was 100% private. "I'm not putting the State's money into making a state-run company, so that I or my successor could later privatise it," the Tourism minister added.
The pre-feasibility studies forecast the park will attract about one million tourists a year, half of them coming from abroad. Furthermore, the activity of Dracula Land is estimated to generate a "capital movement" of some 20 million euros a year in the area.
The amusement park to be built five kilometres away from Sighisoara will take up 60 hectares and 18 million euros to erect, in addition to related investments (accommodation facilities, restaurants, infrastructure and installations) appraised at some 20 million euros.
The special touristic development programme of the Sighisoara area entails building a gulf field, a cable transportation installation to link Sighisoara and Dracula Land, rehabilitation of the infrastructure and re-training of the unemployed work force in the area.
The works on Dracula Land could start this fall (optimistic variant) or next spring (pessimistic scenario), and would be finished in nine months, the minister specified. "The deadline of the project is March 2003," Stoian said.
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