07.
Suez Canal Expansion
The Suez Canal Expansion, completed in 2015, involved a $8 billion investment to widen and deepen the canal, increasing its capacity by 45% and reducing waiting times for ships by 50%. It significantly boosted global trade, allowing the canal to handle more than 50 ships per day. The expansion is projected to contribute $13 billion annually to Egypt’s economy, making the Suez Canal one of the world’s most lucrative trade routes.
Suez Canal Expansion
Scope:
The expansion of the Suez Canal, including a new parallel waterway, to increase the flow of international shipping and reduce waiting times for vessels.
Key Features:
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The new section of the canal stretches over 72 kilometers, allowing two-way traffic.
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Associated infrastructure improvements, including ports and logistics hubs.
Location :
Suez Canal Egypt
Timeline:
The project was completed in 2015, but the canal is constantly updated and expanded.
Impact:
The expansion has significantly boosted Egypt’s shipping revenues and enhanced its strategic importance in global trade.
