Egypt eyes full duplication of Suez Canal
Updated 3/4/2024 6:44:00 AM
Arab Finance: Egypt is considering the full duplication of the Suez Canal in the near future, Chairman and Managing Director of the Suez Canal Authority (SCA) Osama Rabie said in a speech during the 13th annual conference of Marlog.
Rabie disclosed that preliminary studies are being conducted by engineering consulting firms ACE Moharram Bakhoum and Dar Al Handasah, with a focus on duplicating the remaining stretch of the canal to facilitate two-way traffic.
The study will be ready within 16 months.
The necessary funding to implement the project will be provided from the SCA’s investment budget approved by the Ministry of Finance, without placing any additional burdens on the state’s general budget.
The proposal has garnered attention from President Abdel Fattah El-Sisi, to whom the studies have been presented, he said.
Rabie emphasized the importance of identifying suitable partners for the project before it is formally presented to the president once again.
With approximately 80 kilometers of the canal yet to be duplicated, 50 kilometers in the north and 30 kilometers in the south, the initiative holds the potential to significantly enhance maritime trade and navigation through one of the world's vital waterways, Rabie highlighted.
This move aims to address congestion issues and bolster the canal's efficiency, he pointed out.
The canal is undergoing 40 meters of expansion as well as deepening works from 60 to 72 feet, he noted.
Rabie also noted that the canal’s USD revenues dropped by 51% due to the Houthis attacks.
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