Suez Canal expansion to open on Thursday

By Euronews with REUTERS

Published on 05/08/2015 - 23:56

Egypt is due to open an expansion to the Suez Canal on Thursday designed to allow larger vessels to use the waterway, to cut transit times and to

Egypt is due to open an expansion to the Suez Canal on Thursday designed to allow larger vessels to use the waterway, to cut transit times and to raise extra revenue.

The 7.5 billion euro project includes a parallel channel alongside the existing canal, which is the closest link by sea between Asia and Europe.

The project is President Abdel Fattah al-Sisi’s big plan to re-invigorate the country’s economy.

The government hopes the new canal will double the country’s trade income and create up to a thousand new jobs.

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