Egypt has unveiled a major extension of the Suez Canal billed by its President Abdel-Fattah el-Sisi as a historic achievement needed to boost the country’s ailing economy after years of unrest. The extension deepens the main waterway and provides ships with a 35km (22 mile) channel parallel to it.
The expansion aims to increase the traffic handled by the canal. Egypt’s government hopes the revenues will revive the economy – but analysts have questioned the projections. The unveiling of the $8.5bn extension has been trumpeted as a historic achievement by pro-government media.
Facts About Suez Canal
- On November 17, 1869, the Suez Canal connecting the Mediterranean and Red Seas was officially opened at Egypt’s Port Said.
- The canal took more than 15 years to plan and build.
- The canal allows ships to travel between Europe andSouth Asia without navigating around Africa thereby reducing the sea voyage distance between Europe and India by about 7,000 kilometres (4,300 mi).
- The canal is owned and maintained by the Suez Canal Authority (SCA) of Egypt.
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