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إفتتاح قناة السويس الجديدة

The Project:
Construction of a new Canal from km 60 to km 95, in addition to deepening and widening of the Great Bitter Lakes by-passes and Ballah by-pass, with a total length of 37 km, (Total length of the project is 72 km)
Idea of the Project:
Creating a new canal, parallel to the existing one, to maximize benefit from the present Canal and its by-passes, and double the longest possible parts of the waterway to facilitate traffic in the two directions and minimize the waiting time for transiting ships. This will certainly reduce the time needed for the trip from one end of the Canal to the other, and will increase the numerical capacity of the waterway, in anticipation of the expected growth in world trade. The project goes side by side with the Suez Canal Area Development Project. The two projects will add to the importance of the Suez Canal, and will make it the route of choice for ship owners the world over, putting any alternative routes out of competition. The project will also have quite a positive impact on the Egyptian national income as it will boost the hard currency earnings, provide much needed job opportunities and create new urban communities.
Project Objectives:

  • Boosting the hard currency earnings for the Egyptian national income

  • Increasing the doubled parts of the Suez Canal to 50%

  • Shortening the transit time from 18 hours to 11 hours for the southbound convoy

  • Minimize the waiting time for vessels to become three hours at most instead of 8-11 hours, the matter that will cut down on trip cost and make the Suez Canal more attractive for ship owners

  • Attract more ships to use the Suez Canal, and add to the Canal classification as an important international maritime route

  • Increase the number of ships that the Canal can handle on a daily basis in order to cope with the expected growth of world trade 

  • Support the Suez Canal Area Development Project and enhance the Egyptian national economy and turn Egypt into an international logistics center

Project Returns and Outcome:

  • Increase the daily average of transiting vessels to 97 ships by the year 2023, up from 49 ships at present;

  • Achieve direct unstopped transit for 45 ships in the two directions, and stepping up the permissible draft to 66ft all through the Suez Canal;

  • Increase the Suez Canal revenues from $ 5.3 billion at present to $ 13.226 billion in 2023; an increase equal to 259% that shall positively contribute to Egypt’s national income of hard currencies;

  • Create job opportunities for young people living at the Canal Zone, Sinai, and neighboring governorates; and creating new urban societies as well; and

  • Maximize competitiveness of the Suez Canal, excel its ranking among other alternative canals, and world classification societies due to the high rate of safety accomplished during transits.

Duration of the project:
The project is due to be completed in 12 months (one year).
Dry Excavation works:
Volume of dry excavation works amounts to 258 million cubic meters, at an estimate cost of EGP 4billion.
Revetment works: 
Revetments shall extend along the Canal with a length of 100km; at an estimate cost of EGP 500 million.
Dredging works:
Dredging works amount to about 250 million cubic meters of soil, at an estimate cost of EGP billion 15.
Other related works: 
- Deepening the existing western by-passes of 37 km total length to a depth of 24m (66ft draught):


International media Coverage

UK.Reuters

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."
Mameesh said the new canal would reduce navigation time for ships to 11 hours from about 22 hours, making it the fastest such waterway in the world. The new and old canals are connected by four small channels.
Eighty five percent of dredging works have been completed, with 219.3 million cubic meters of sand excavated from a total of 258 million cubic meters, Mameesh said, adding that the new waterway would be fully secured.
"They are not only digging or dredging works, but also preparing the maritime path to be valid and secure for global navigation. We will not allow any ship to pass unless it has navigational security," he said.
The existing canal earns Egypt around $5 billion per year, a vital source of hard currency. The new canal, which will allow two-way traffic of larger ships, is supposed to increase revenues by 2023 to $15 billion, Mameesh said.
The government also plans to build an international industrial and logistics hub near the Suez Canal that it expects will eventually make up about a third of the Egyptian economy..
Mameesh said he hopes a law designed to ease red tape for investors in the new Suez industrial hub will be enacted this week, adding that the new canal and the hub projects could help Egypt to realise an extra $100 billion in revenue per year.
(This story has been refiled to correct typo in sixth paragraph)

(Additional reporting by Omar Fahmy; Writing by Mahmoud Mourad; Editing by Mark Heinrich and Raissa Kasolowsky)