EGYPT has announced plans for a new Suez Canal running parallel to the existing waterway that would eliminate single direction convoys that cause delays.
The Egyptian governnment has not yet specified whether the expanded canal system would accommodate larger vessels.
Speaking in Ismailia on state television, Suez Canal Authority chairman Mohab Mamish said the new canal will run parallel over 72 kilometres.
The US$8.2 billion project is expected to include an international industrial and logistics hub, Reuters reports.
Lloyd's List Intelligence data shows there were 16,992 transits in 12 months (8,584 northbound; 8,407 southbound), which came 1.2 billion dead wieght tons.
A second canal has been discussed before, and was expected to begin in 2010 and be completed by 2012. But Egypt's political troubles prevented this from happening.
WORLD SHIPPING
07 August 2014 - 21:18
Egypt announces plans for parallel Suez Canal ending one-way convoys
EGYPT has announced plans for a new Suez Canal running parallel to the existing waterway that would eliminate single direction convoys that cause delays.
WORLD SHIPPING
07 August 2014 - 21:18
Egypt announces plans for parallel Suez Canal ending one-way convoys
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