The construction of a new golf course near the village of Bozhurets, in the coastal Kavarna region, will cost 120 mln euro, said Kavarna mayor Tsonko Tsonev at Saturday's ground-breaking ceremony. The 18-hole golf course, with an area of 140 ha, is designed by architecture firm Wimberly Allison Tong&Goo which will rally a host of unnamed foreign investors to support the project financially. The course itself will be designed by South African golfing legend Gary Player. The first phase of the project, including a 5-star spa hotel and 90 villas, should be ready by June '08.