7 Things You Should Know About Egypt’s ‘New Suez Canal

On August 6, Egypt will inaugurate a “New Suez Canal,” in a celebration which the state has for weeks been publicising. The project was completed one year after the green light to start working was given.

The Suez Canal is a strategic waterway for Egypt and it brings the state billions of dollars annually.

Aswat Masriya will answer questions on when the idea for the project came up, how it was funded, what the expected benefits are and what is next.

When?

President Abdel Fattah al-Sisi launched a project to deepen the Suez Canal and dig a parallel canal on August 5, 2014. In a scene aired on television, he pushed a button, launching an explosion leading to black smoke billowing in the sky.

This marked the beginning of drilling.

On the same day, Sisi signed an order to launch drilling in a major ceremony held near the waterway.

The Suez Canal Authority estimated that the project will need 36 months to be completed but Sisi demanded that it be completed in a year.