News

Egypt Prepares for A Day of Celebrations Marking New Suez Canal Opening

Egypt Prepares for A Day of Celebrations Marking New Suez Canal Opening

Egypt's President Abdel Fattah al-Sisi visits the "New Suez Canal" project, on January 16, 2015. Presidency Handout
Egypt’s President Abdel Fattah al-Sisi visits the “New Suez Canal” project, on January 16, 2015. Presidency Handout

Egyptian President Abdel Fattah al-Sisi is inaugurating on Thursday the “New Suez Canal”, in an anticipated celebration which Egypt has long been campaigning for.

The inauguration ceremony will be attended by a number of world leaders, most notably French President François Hollande. Celebrations are due to begin Thursday afternoon, with the president expected to deliver a speech at around 4 p.m.

The Suez Canal Authority conducted a test-run for the new canal on July 25, allowing a flotilla to cross the canal for the first time.

Dubbed by Sisi’s government as the “New Suez Canal”, the project is made up of two aspects.

One involves building a 35 –kilometers-long canal parallel to the current Suez Canal, to minimize the amount of time ships spend crossing the canal. Additionally, the Suez Canal was made deeper and wider to admit larger ships.

This aspect, launched on August 5, 2014, is the one being celebrated today, after a year-long construction.

The other aspect of the “New Suez Canal” is meanwhile the longer-term development of the canal region.

The development aspect is planned on to take place over two phases, the first of which is due to be initiated within 2015 and will be completed by 2030. The second is set to be completed by 2045.

Overall, investments surpassing $US 100 billion are expected to be poured in the two phases and they are slated to provide a million job opportunities.

On the long-run, the project aims to develop the entire region surrounding the Suez Canal, turning the strategic waterway into a comprehensive global business center, which provides maritime transport services.

The services include repairing ships, refueling, towing and rescuing, painting and cleaning ships and loading and unloading them.

The project will see the creation of industrial and logistical centers, as well as centers for packing and packaging.

Several Killed in Saudi Arabia Suicide Bombing
Egypt's New Suez Canal Through The Eyes of Foreign Media

Subscribe to our newsletter


News
@AswatMasriya_En

Aswat Masriya is a Thomson Reuters Foundation-sponsored website that covers Egypt's transition to democracy. en.aswatmasriya.com

More in News

A pharmacist searches for medicine at a pharmacy in Cairo, Egypt, November 17, 2016. REUTERS/Mohamed Abd El Ghany

Egyptian Military Forms Pharmaceutical Company

Egyptian StreetsJanuary 23, 2017
Egypt's military prepares ahead of new operations against militants in Sinai

Five Soldiers Killed in Ambush in Egypt’s North Sinai

Egyptian StreetsJanuary 23, 2017
61320490

Egypt Knocked Out of Handball World Championships

Egyptian StreetsJanuary 23, 2017
egypt

Egypt Defeats Uganda in African Cup of Nations

Egyptian StreetsJanuary 22, 2017
Egypt's Karim Abdel Gawad and France's Camille Serme

Egypt’s Karim Abdel Gawad Wins Tournament of Champions in New York

Egyptian StreetsJanuary 21, 2017
22.jpg.crop_display

Cairo Court Lists Egyptian Football Legend Aboutreika on Terror List

Egyptian StreetsJanuary 19, 2017
32385636795_e6f5d7101d_z

Egypt Secure Spot in Knockout Stage at 2017 Handball World Championship

Egyptian StreetsJanuary 19, 2017
1073779_big-lnd

Egypt’s Essam El-Hadary Makes African Cup History

Egyptian StreetsJanuary 18, 2017
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2016 ES Media UG. All Rights Reserved.