Egypt says New Suez Canal to open on August 6, 2015Egypt’s New Suez Canal will open on Aug. 6, its overseer said on Saturday, a project President Abdel Fattah El-Sissi 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 El-Sissi orders the start of navigation on Aug. 6, ships will be able to go through the canal.”
WORLD SHIPPING
14 June 2015 - 19:12
Egypt says New Suez Canal to open on August 6, 2015
Egypt’s New Suez Canal will open on Aug. 6, its overseer said on Saturday, a project President Abdel Fattah El-Sissi sees as a potent symbol of national pride and a major chance to stimulate an economy suffering double-digit unemployment.
WORLD SHIPPING
14 June 2015 - 19:12
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