CAIRO: Ninety-nine days remain for the inauguration of the New Suez Canal in August, announced Suez Canal Authority Chairman Mohab Mamish Sunday, per a timeline previously scheduled by the President Abdel Fatah al-Sisi.
Launched in August 2014, the national project was given only one year for its completion, which was deemed by the government as an #important challenge” to revive the Egyptian economy.
The multi-billion project financed only by Egyptian citizens through purchasing investment certificates, aims to boost annual revenues of the canal up to $13.5 billion by 2023.
By establishing a canal parallel to the current one, the project aims to speed up transit time and allow ships to sail into both directions at the same time.
Since the launch, the Suez Canal authority has been updating people with the developments at the work site of the new canal.
Dry excavation work was completed earlier this month, after a total 258 million cubic meters were drilled. Some 66 percent of the dredging work has been finalized; 153 cubic meters out of total 250 cubic meters have been dredged, Chairman Mamish said in press statements.
Mamish previously stated that the new canal might be opened on an experimental basis in May.
Youm7 published Friday maps and pictures taken by the National Authority for Remote Sensing and Space Sciences showing the Suez Canal before and after the new expansion.
Deputy Head of the Authority Alaa el-Nahry, told Youm7 they used the American Satellite LAND SAT 8, which revealed the length of the new canal during the dry excavation phase as 37.2 km and not 35 km.
Suez Canal before drilling work
Suez Canal after drilling