Cairo: Egypt has outlined its plans to expand the Suez Canal. A new channel will be built as part of a development to build an economic corridor along the banks of the waterway.
“This giant project will be the creation of a new Suez Canal parallel to the current channel of a total length of 72 kilometres,” Mohab Mamish, the chairman of the Suez Canal Authority, said.
The channel will cost around $4bn and be finished in five years.
Egyptian president Abdel Fattah El Sisi, a former army chief, said the armed forces would be in charge of the new project. [06/08/14]