Private Money to Finance New Suez Opening

The opening ceremony for Egypt’s New Suez Canal, scheduled to take place on August 6, will not be paid out of the State budget under directive of President Abdel Fattah El Sisi, Chairman of the Suez Canal Authority Mohab Mamish said.

All dredging companies that are participating in the project were invited to contribute to the cost of the opening ceremony.

Also a bank account will be opened for Egyptian businessmen who are willing to pay some of the expenses, said Mamish, during the visit to Berlin, on Thursday June 4th 2015.

Press conference will be held next week in Egypt to spell out more details related to the ceremony.