Arab Today, arab today new suez canal finished in third of originally estimated time
Last Updated : GMT 00:14:17
Arab Today, arab today
Arab Today, arab today

New Suez Canal finished in third of originally estimated time

Arab Today, arab today

Arab Today, arab today New Suez Canal finished in third of originally estimated time

New Suez Canal
London - MENA

Foreign media hailed the new Suez Canal project that was achieved within only one year in a third of the originally estimated time.

The Guardian said that Egypt is set to inaugurate a major expansion of the Suez canal finished in a third of the originally estimated time.

The $8bn project had been projected to take three years but on the orders of President Abdel Fatah El Sisi was completed after one year, the paper added.

"This is a huge undertaking on a world scale. It has been completed in a time that is frankly astonishing," the Guardian quoted secretary general of the International Chamber of Shipping as saying.

Also, the Business Insider said that President Abdel Fattah El Sisi launched the project in August 2014 and set an ambitious target of digging the expanded canal within a year.

The paper added that the canal is part of an ambitious plan to develop the surrounding area into an industrial and commercial hub that would include the construction of ports and provide shipping services.

The new route is considered a "national project" that aims to kick-start an economy battered by years of political turmoil since the ouster of president Hosni Mubarak in 2011, the Business Insider said

It is expected to more than double Suez revenues from $5.3 billion expected at the end of 2015 to $13.2 billion in 2023, the paper quoted Egyptian officials as saying.

For its part, the International Business Times said that the first trial run of Egypt's new Suez canal has been successful.

The paper added that the new 72 km canal project aims at speeding up traffic along the existing waterway and in cutting the waiting period of vessels besides a new boost in revenues for Egypt.

The paper said that the old Suez Canal remains a vital source of hard currency for Egypt and served as a buffer in withstanding the slide in revenue from tourism and dipping foreign investment that followed turmoil from the Arab Spring uprising in 2011.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today new suez canal finished in third of originally estimated time Arab Today, arab today new suez canal finished in third of originally estimated time

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today new suez canal finished in third of originally estimated time Arab Today, arab today new suez canal finished in third of originally estimated time

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Airbus CEO says won't cling to job

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 'Final phase' of battle for Raqa

GMT 03:47 2017 Monday ,16 October

'Final phase' of battle for Raqa
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Norway seeks 'Tesla tax' on electric cars

GMT 08:17 2017 Friday ,13 October

Norway seeks 'Tesla tax' on electric cars
Arab Today, arab today Safaa Sultan happy for “Love School”

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”
Arab Today, arab today Conservation cutbacks put Brazil's

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:19 2017 Wednesday ,11 October

Bosy reveals behind her participation in festival

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:20 2017 Thursday ,12 October

Chad extends key conservation area

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:16 2017 Friday ,13 October

Lufthansa to swallow lion's share

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday