CAIRO: President Abdel Fattah al-Sisi has given the go ahead for the “New Suez Canal” Thursday.
During the inauguration speech, Sisi said he appreciates the efforts exerted make the dream comes true, describing the New Suez Canal as “Egypt’s gift to the world.”
The new $8.5 billion canal is expected to allow two-way traffic through the Suez Canal. Before the new extension was added, about 50 vessels a day transited the Suez Canal while the number is estimated to double.
Before the speech started, Sisi signed the declaration that officially marks the opening of the new canal.
Following the speech, Parades and air shows were performed by the Egyptian air and naval forces. Egypt’s newly-acquired arms including the French Rafale fighter jets, the American F-16 warplanes and the FREMM frigates have participated in the show.
A documentary showing details of the digging process, the cost and specifications of the new canal was screened during the inauguration.