This will certainly help Egypt's economy.
New Suez Canal’s trial run successful: Egypt to gain huge revenue from new canal
By Kalyan Kumar @diplomatist10 on July 29 2015 11:50 AM
IN PHOTO: Naval ships from several countries anchor off shore while taking part in ceremonies marking the Canadian Navy's 100th anniversary in Victoria, British Columbia June 11, 2010. The ships are (L-R) Japan's JDS Atago, New Zealand's HMNZS Endeavour, United States USS Sampson, Canada's HMCS Winnipeg and Australia's HMAS Newcastle. Reuters/Andy Clark
The first trial run of Egypt’s "new Suez canal" has been successful, according to its state media. The formal inauguration of the new shipping channel will be held on Aug. 6. Called as Suez Canal Axis, the new 72 km canal project aims at speeding up traffic along the existing waterway and in cutting the waiting period of vessels besides a new boost in revenues for Egypt.
During the trial, three container ships crossedthe new waterway. One was an American ship heading to Egypt's Port Said from Saudi Arabia, second one was a Danish ship sailing to the United States from Singapore, and third was a Bahraini ship going to Italy from Saudi Arabia.
World Trade
The Suez Canal was built 145 years ago and is world's most heavily travelled shipping lanes and the pivotal source in international trade. It connects the Red Sea and the Mediterranean. The new canal is also part of the old canal. President Abdel Fattah al-Sisi hopes that the new waterway will heavily expand trade along the fastest shipping route between Europe and Asia. Sisi’s vision is to make the new canal a symbol of national pride and make a tool in combating Egypt's double-digit unemployment.
Continue reading at:
New Suez Canal s trial run successful Egypt to gain huge revenue from new canal?
New Suez Canal’s trial run successful: Egypt to gain huge revenue from new canal
By Kalyan Kumar @diplomatist10 on July 29 2015 11:50 AM
IN PHOTO: Naval ships from several countries anchor off shore while taking part in ceremonies marking the Canadian Navy's 100th anniversary in Victoria, British Columbia June 11, 2010. The ships are (L-R) Japan's JDS Atago, New Zealand's HMNZS Endeavour, United States USS Sampson, Canada's HMCS Winnipeg and Australia's HMAS Newcastle. Reuters/Andy Clark
The first trial run of Egypt’s "new Suez canal" has been successful, according to its state media. The formal inauguration of the new shipping channel will be held on Aug. 6. Called as Suez Canal Axis, the new 72 km canal project aims at speeding up traffic along the existing waterway and in cutting the waiting period of vessels besides a new boost in revenues for Egypt.
During the trial, three container ships crossedthe new waterway. One was an American ship heading to Egypt's Port Said from Saudi Arabia, second one was a Danish ship sailing to the United States from Singapore, and third was a Bahraini ship going to Italy from Saudi Arabia.
World Trade
The Suez Canal was built 145 years ago and is world's most heavily travelled shipping lanes and the pivotal source in international trade. It connects the Red Sea and the Mediterranean. The new canal is also part of the old canal. President Abdel Fattah al-Sisi hopes that the new waterway will heavily expand trade along the fastest shipping route between Europe and Asia. Sisi’s vision is to make the new canal a symbol of national pride and make a tool in combating Egypt's double-digit unemployment.
Continue reading at:
New Suez Canal s trial run successful Egypt to gain huge revenue from new canal?
