Port Finance International Events - covering global port developments

Search site

RSS
Tuesday, 05 August 2014

Egypt wants to dig a new Suez Canal

The Suez Canal The Suez Canal Suez Canal Authority

Egypt today announced plans to dig a second Suez Canal.

President Abdel Fattah al-Sisi attended this Tuesday the ceremony which launched the Suez Canal Axis Development Project, the State Information Service (SIS) reports.

In his speech, transcribed on the SIS website, Sisi wished for the project to be funded by Egyptians, and not foreign investors and foreign banks. He urged Egyptians to buy shares in the venture.

The Suez Canal Authority (SCA) chairman Mohab Mamesh said that digging a 72km long waterway alongside the existing one could help turn Egypt into an international trade and industrial hub.

ABOUT US

Port Finance International provides online news and conferences worldwide. It is a platform and a community for senior industry experts and players to review and discuss the market. Our online news team provides daily coverage of international port finance, investment and operations news. A weekly e-newsletter- sent to readers free of charge - covers the key news and views of the week.

Port Finance International's conferences and training programmes are held across the globe. These events feature key industry figures and they address market challenges and trends as well as providing industry players with essential networking opportunities.

Follow us

Newsletter

Sign up for our free newsletter