Egypt to complete new Suez Canal project at end of week

The new Suez Canal shipping-route project will be completed before Saturday, according to Mohab Mamesh, head of the Canal Authority.

On Sunday, 97.2 percent of the project was completed, Mamesh told state television.

Egypt completed dredging operations for the new waterway last Thursday, according to a report from the armed forces published by Aswat Masriya.

Workers have finished dredging of a total of 250 million square metres for the new route, as well as the digging of 70 million square metres in the expansion of the Ballah Bypass on the western edge of the canal.

The Bypass’s width is now 312 metres, compared to a previous 61 metres.

The flagship project of President Abdel-Fattah El-Sisi’s economic programme is set to open in August and will be attended by world leaders.

The government will fund the opening ceremony on 6 August through donations from the public and contributions from participating dredging companies to avoid any burdens on the state budget, Mamesh said last month.

Since taking office in June of last year, El-Sisi has embarked on an economic reform programme, restructuring the state budget in an effort to trim a ballooning deficit.

The mega-project to expand the Suez Canal, alongside plans to build an industrial hub and a supply and logistics centre in the vicinity of the canal, are at the heart of El-Sisi’s development plans.

source:Ahram online