he opening phase in a larger plan to develop the canal region into a hub for global trade, industry and logistics, the canal extension is to involve dry digging a new waterway 35 kilometers long, as well as 37 kilometers of expanding and deepening the existing canal, for a total of 72 kilometers.
In line with public fundraising efforts such as the Tahya Masr fund, officials announced that the digging, with an estimated cost of around LE60 billion, would be funded by public contributions. The canal expansion will allow two-way traffic and ease bottlenecks along the canal, cutting transit time and allowing larger ships to traverse the waterway.
he opening phase in a larger plan to develop the canal region into a hub for global trade, industry and logistics, the canal extension is to involve dry digging a new waterway 35 kilometers long, as well as 37 kilometers of expanding and deepening the existing canal, for a total of 72 kilometers.
In line with public fundraising efforts such as the Tahya Masr fund, officials announced that the digging, with an estimated cost of around LE60 billion, would be funded by public contributions. The canal expansion will allow two-way traffic and ease bottlenecks along the canal, cutting transit time and allowing larger ships to traverse the waterway.
