President Inspected New Suez Canal Project
- Business & Finance
Egyptian President Abdel Fattah el-Sisi yesterday inspected the digging and dredging operations under the New Suez Canal project.
The Chairman of the Suez Canal Authority, Mohab Mamish, hosted Sisi, briefing him about the progress being made on the project.
They also discussed the outlines of the Suez development plans, including extension of east Port Said seaport and its industrial and logistic zones.
The New Suez Canal dredging scheme, one of the largest in recent history, is estimated to be worth over $2 billion.
Some of the world’s top dredging companies are taking part in this capital project which is designed to enlarge the transit capacity and to increase industrial activity in the area.
Included in the project are Boskalis, Van Oord, National Marine Dredging Company (NMDC), Jan de Nul, Great Lakes Dredge & Dock Corporation (GLDD) and Dredging International NV.