The most successful project of the
Century: 72 new kilometers build in 1 year and totally funded by citizens
The Suez Canal, the fastest link
between Asia and Europe, is even faster since August 2015. Within one year, the
Egyptians added 72 more km: 35 km bypass along the 193 km long canal and 37 km the
deepening and expansion of the existing canal. This enlargement of the waterway
allows, for the first time, for two-way traffic along part of the route, as
well as for larger vessels overall. Also, the ships can transit the Canal in 11
hours, down from 18 hours and their number is expected to increase from 49 in a
day to 97 until 2023. The construction was initially scheduled to last five
years. It was first reduced to three years and finally ordered by the Egyptian
President Abdel Fattah al-Sisi to be completed in one year only. That’s why the
new waterway is named also after its pioneer “the Sisi Canal”.
The Suez Canal represents a main
source of revenue with its $ 5 billion yearly income in the Egyptian economy
weakened by the riot from 2011. The New waterway represents a “Prosperity
Canal” which is a part of a bigger project of expanding Suez seaport in order
that Egypt become a major commercial center and strategic partner.
The expansion of the Canal cost
around $ 8.4 billion (60 billion Egyptian pounds) amount which was totally
funded by citizens. The president Abdel Fattah al-Sisi refused to allow foreign
investors to invest in the project, but instead urged Egyptians to participate
in funding the project. By this, the entire turnover returns back to it’s
people.
The New Suez Canal has become a
source of national pride and it shows the innovation and the achievement of a
great man and a great people, great enough to name the new waterway “the Sisi
Canal” or “Prosperity Canal”.
