Egypt’s Suez Canal Expansion Plans Continue Amidst Political and Economic Challenges

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The expansion project of the Suez Canal, which entails building a second channel of waterway is being further studied, Osama Rabie, the President of the Egyptian Suez Canal Authority, stated on 4 March. A second channel of the waterway is planned to be created by deepening and widening a section of the canal. “We have studied the full duplication of the Suez Canal, with 80 kilometers remaining to be duplicated, 50 kilometers in the north and 30 kilometers in the south,” Rabie reported. The preliminary studies for the expansion were presented to Egypt’s President, Abdel Fattah El-Sisi. The study phase includes viability, environmental, engineering, civil, soil, dredging, and other related studies, according to the President of the Canal Authority. He stated, “The authority will work in cooperation with leading global consulting firms specialized in this field to complete the study phase within 16 months.” The Suez Canal is one of Egypt’s most profitable projects. The canal’s profit in November 2023 was 20.3 percent higher than in November 2022, reaching USD 854.7 million (EGP 26.4 billion) as opposed to the year before’s record of USD 710.3 million (EGP 21.9 billion), according…

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Source: egyptianstreets