New Suez Canal Almost 84 Pct Complete
By Aiswarya Lakshmi
Saturday, June 13, 2015
Over 216 million cubic meters of water-saturated sand have been removed so far as part of the Suez Canal Development Project, said Head of the Suez Canal Authority Mohab Mamish.
This represents about 84 percent of the total cubic meters that should be dredged as part of the project, Mamish added.
Thirty-eight dredgers are working in the project, said Wagdi Zaki, the executive director supervising the dredging process, in statements on Thursday 11/06/2015.
The expansion project will pave the way for a transit of ships of up to 20 meters in draft, thus increasing the revenue of the canal to up to USD 17 billion a year.
The project aims at expanding the Suez Canal region's role as a global, industrial, and logistics center that is environmentally balanced with an integrated economy.
It is also projected to become a global hub due to its logistics and industrial services.