August date set for new Suez Canal opening

August date set for new Suez Canal opening

Cairo: August 6 has been announced as the official launch date for the new expanded Suez Canal. Egyptian president Abdel Fattah El-Sisi will be on hand to officiate at the ceremony.

“The new Suez Canal is more than just a new waterway and an astonishing feat of engineering. It is a catalyst for the Egyptian people which will unleash a renewed sense of pride and a more prosperous future,” Admiral Mohab Mameesh, chairman and managing director of the Suez Canal Authority, said yesterday.

More than 210m tons of sand has been excavated for a new 72 km canal. While originally the plan was to spend three years building the new waterway, authorities demanded it be completed in just 12 months, something that Mameesh claims is now firmly on track.

August 6 will mark the first time traffic has flowed simultaneously north and south through the Red Sea – Mediterranean crossing, doubling the current daily ship capacity. The authority expects its annual revenue to jump from $5.3bn in 2015 to $13.2bn in 2023.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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