Suez Canal to expand two-way section by 10km
The Suez Canal’s two-way section will see a 10km expansion, according to Osama Rabie, chairman of the Suez Canal Authority (SCA).
The chairman said in a press conference that, following the expansion, the canal will only go from 72km to 82km, as it is too expensive to expand the whole waterway.
Rabie added that the completion rate of the southern sector’s development has reached 14 per cent, with a total dredging rate of 11 cubic meters of water-saturated sand. The project is expected to be completed within 24 months, in line with the expectations of Egyptian President Abdel Fattah El-Sisi.
The souther sector made the headlines last year when the Ever Given container ship got trapped in the waterway blocking global trade for almost a week, CityAM reported.
Following the Ever Given incident, the Canal registered a six per cent increase in transit tolls with growth set to go up by seven per cent this year.