Egypt to Build New Canal Alongside Suez Canal
- Business & Finance
Egypt’s President Abdel Fattah al-Sisi attended the ceremony of launching the Suez Canal Axis Development Project at the Suez Canal Authority (SCA) club, Ismailia governorate.
SCA Chairman Lt. General Mohab Mamesh delivered a speech, recalling that Egyptians have scarified their lives to dig the Suez Canal, which changed the history and became the life line of not only Egypt, but the whole world.
Mamesh stressed that launching a project of digging a new Suez Canal at the order of President Abdel Fattah al-Sisi is a historic event that proves the strong Egyptian will.
He asserted that the Suez Canal Axis Development Project was prepared in a scientific and sound manner under the supervision of a ministerial committee headed by Prime Minister Mahlab and concerned local and international bodies.
The project of digging a new Canal would make Egypt an international commercial and industrial center, which would be a destination for international investment and trade traffic, Mamesh said.
He expressed thanks to the Armed Forces personnel for strongly and professionally securing the international waterway. He also thanked policemen for assuming their roles in securing the Canal.
He also noted that the project would provide job opportunities for Egyptian youth and create new urban communities in the area to attract people to be relocated in Sinai and Canal region.
The project would pass by three stages: planning, preparation and processing and implementation and follow-up, Mamesh added.
Press Release, August 5, 2014