Egypt to build $8.4 billion channel parallel to Suez Canal


Egypt to dig parallel Suez Canal in one year: El-Sisi 

Egypt is planning to build a new Suez Canal alongside the existing waterway, as part of a multi-billion dollar project to invest in port and shipping infrastructure. This will be a vital source of hard currency to the Arab country.

The new canal will be part of a bigger project to expand Suez port and shipping facilities into a major global trade hub.

“This giant project will be the creation of a new Suez Canal parallel to the current channel of a total length of 72 kilometers,”Mohab Mamish, chairman of the Suez Canal authority, told a conference on the project in Ismailia, one of the port’s on the waterway.

Mamish said that the project would consist of 35 kilometers of “dry digging,” in other words a totally new canal, and a further 37 kilometers of “expansion and…

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