Wednesday, May 13, 2015

Egypt to inaugurate new Suez Canal Aug 6 (Abdel Fattah el-Sisi)

The new Suez Canal will be inaugurated in Egypt on August 6, President Abdel Fattah el-Sisi said in a televised address.

"The dry digging in the new canal has been 100% completed," Sisi said late on Tuesday, adding that 65% of dredge works had been finished.

He said many foreign leaders had been invited to the inauguration ceremony.

On May 9, el-Sisi invited Russian President Vladimir Putin to attend the canal's inauguration during their meeting in Moscow.

Egypt announced the $8 billion project to build the new Suez canal and modernise the old warerway in August 2014.

The Suez Canal, which carries about 10% of global seaborne trade, is a vital source of revenue for Egypt. The canal opened in 1869 is about 190 kilometres long.


1 comment:

  1. Egypt's New Suez Canal will open on Aug. 6, its overseer said on Saturday, a project President Abdel Fattah al-Sisi sees as a potent symbol of national pride and a major chance to stimulate an economy suffering double-digit unemployment...

    The army began work 10 months ago on the $8 billion canal, flanking the existing, historic 145-year-old waterway and part of a larger undertaking to expand trade along the fastest shipping route between Europe and Asia.

    The Suez Canal is a vital source of hard currency for Egypt, particularly since the 2011 uprising that scared off tourists and foreign investment.

    "The digging and dredging works will conclude on July 15. The opening of the New Suez Canal will be on Aug. 6, according to the orders of the Egyptian people and the Egyptian president," Mohab Mameesh, chairman and managing director of the Suez Canal Authority, told a news conference in Ismailia.

    "Once President al-Sisi orders the start of navigation on Aug. 6, ships will be able to go through the canal."......Reuters....


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