KRZ-Port Burgas AD, 92%-owned by Industrial Holding Bulgaria, said it will implement a BGN 23m project for a new commercial port in the city of Bourgas, on the Black Sea. The company will extend westwards by 180 m an existing quay wall, creating an expanded port with a 3 ha area. The project, which will create three new berths each 125 m long and 11.5 m deep, should be completed in three years. The western end of the new port will be allocated for grain cargo while the remainder will handle general cargo. The EBRD will be involved in the project financing.