About 20 kilometers of the dredging operations at the new Suez Canal Project have been completed, said Chief of Staff of the Army's Engineering Authority Major General Kamel el Wazir.
Speaking at a press conference on Thursday, Wazir said that the total dredging rate hit 64 million cubic meters.
Regarding road works, Wazir said that 27 percent of the target has been finalized.
Talking about the new Ismalia city, he said that foundations of 374 buildings have been carried out.
The project aims at expanding the Suez Canal region's role as a global, industrial, and logistics center that is environmentally balanced with an integrated economy.
It is also projected to become a global hub due to its logistics and industrial services.
The project was funded through granting investment certificates to Egyptians with 12% returns, and in eight days, more than 60 billion pounds were collected.