Time for a New Suez Canal
Plans for major new expansion of shipping route.
Time for a New Suez Canal, Egypt Says
CAIRO (Reuters) – Egypt said on Tuesday it plans to build a new Suez Canal alongside the existing 145-year-old historic waterway in a multi-billion dollar project to expand trade along the fastest shipping route between Europe and Asia.
The project, to be run by the army, is a major step by new President Abdel Fattah al-Sisi to stimulate Egypt’s struggling economy and recalled some of the grand national programmes of one of Sisi’s predecessors, army strongman Gamal Abdel Nasser.
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