The second route to the Suez Canal, which must be used to improve traffic flow from the existing canal will be inaugurated on August 6, the Egyptian authorities announced today.
The ambitious Suez Canal development project is one of the flagship projects of President Abdel Fattah al-Sisi, the former army chief who ousted the Islamist Mohamed Morsi in 2013 and whose election promises focused on reviving the economy, undermined by four years of political instability. “The digging and dredging will be completed on 15 July 2015. The inauguration of the new Suez Canal will be held August 6, 2015,” said Mohab Mamish, the director of the Suez Canal Authority. The digging was launched with great fanfare August 5, 2014 by President Sissi, who had then claimed that the work is completed within a year.
The aim of this new way is to increase capacity Traffic on this fundamental artery linking the Red Sea and the Mediterranean Sea. The authorities also want to develop the area along the canal into a logistical hub, industrial and commercial center, including building more ports and offering services for commercial fleets going to the channel. “God willing, this project will mark the return of Egypt on the map of international investment,” said Mr. Mamish
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