“History”, “pharaonic” even before its inauguration, the new Suez Canal has received the most high-sounding adjectives. True, the event is, in many respects, unusual.
Hardware Exploit
A century and a half after the completion by the French Ferdinand de Lesseps of the book linking the Red Sea to the Mediterranean , the channel was doubled on expanded third of its 193 km and made deeper dredging after the rest of his course.
The tankers will be able to cross, which will double the shipping traffic on this major axis for world trade. By 2023, 97 vessels may transit the canal daily, against 49 currently. Launched Aug. 5, 2014 by President Abdel Fatah al-Sisi, the project was, according to his wishes, directed at record speed: just one year will be enough so that the duration of the work of this magnitude was estimated to be three or four years . The army has directly supervised the construction site involving mainly Egyptian companies.
A boost for the economy
National pride for the Egyptians, who have funded a large loan the majority of the estimated cost of € 7.8 billion, the new Suez Canal must be the lever for economic recovery of the country, undermined in particular by the collapse of tourism . The increased traffic will generate (2023) € 12.1 billion in annual revenue against 4.7 billion in 2014. Meanwhile, Cairo has launched in 2013 the development along the canal zone Special Economic 100 km 2 dedicated to port activities and 400 km 2 for industrial and real estate facilities. A pharaonic site also. The power table on the creation of one million additional activity because jobs generated by the channel.
Sissi Marshal in the footsteps of Colonel Nasser
Elected president a year ago following the dismissal in July 2013 of the Islamist Mohamed Morsi, Marshal Abdel Fatah al-Sisi took all the risks in launching this grandiose project. It symbolizes the return of Egypt on the regional and international scene after four years of internal upheaval. Sissi is in the tradition of another soldier, Colonel Nasser, who had not hesitated to provoke an international crisis by nationalizing the Suez Canal in 1956. The new strongman in Cairo on the table very strong nationalist sentiment Egyptians to strengthen his power.
A success and several unknown
The increase in Suez Canal capacity does not automatically generate higher revenues . These depend first of world maritime traffic, that is to say the application, and it is not necessarily assurée.Les Egyptian military will also be able to repel the terrorist threat of state group Islamic, very present in northern Sinai. Came to power after the overthrow of his predecessor, the current Egyptian government is also asked by its Western allies to show signs of easing on human rights.
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