Egypt is conducting feasibility studies for another expansion of the Suez Canal, aiming to enhance transit efficiency and accommodate more traffic. The initiative seeks to address previous shortcomings and prevent potential blockages, following an $8.2 billion expansion in 2015 that introduced a 35-km parallel waterway but failed to meet expectations. The expansion is expected to extend the canal from 72 to 82 kilometers, turning single-lane segments into double-lane crossings to facilitate the passage of a larger number of ships. This project is crucial for Egypt, as the Suez Canal is a significant source of foreign currency revenue, with about 15% of world shipping traffic passing through it. Two international companies have been tasked with the feasibility studies, underscoring the project's importance in boosting Egypt's economic prospects and the global maritime trade.
Egypt is planning another expansion of the Suez Canal. The project idea has been in place since a container ship blocked the Suez Canal for six days in 2021 https://t.co/yqZliOmwSb
Egypt has commissioned feasibility studies for another expansion of the Suez Canal. The expanded canal will be 82 kilometres instead of 72 kilometres to increase the number of ships https://t.co/FL7eYsJVUB
Egypt is planning to expand the Suez Canal. Currently, about 15 per cent of world shipping traffic transits the Suez Canal, which is a major source of foreign currency revenue for Egypt https://t.co/yqZliOn4HJ
Two international companies are currently tasked with the feasibility studies into the project of expanding the Suez Canal which will turn single-lane segments into double-lane crossings https://t.co/yqZliOmwSb
Egypt plans to expand the Suez Canal again to facilitate traffic in the vital waterway where 12 percent of global maritime trade passes https://t.co/yqZliOmwSb
"Egypt is carrying out a feasibility study on further expanding the Suez Canal in a push to speed up transit times and avert potential blockages .. Nearly a decade ago, Egypt completed an $8 billion expansion of the canal" https://t.co/Hq4hjd96Lz
Egypt has commissioned feasibility studies for another expansion of the Suez Canal to facilitate traffic in the vital waterway where 12 percent of global maritime trade passes https://t.co/g7FY0wiNXn
Suez Canal head says Egypt studying further expansion of waterway https://t.co/IQx8XTT0Zi https://t.co/3e9FdE6pfK
Egypt plans to expand Suez Canal again after $8.2 billion project fails to achieve goals https://t.co/TNZBNP4luA
⚓️ via Reuters: “The canal is a key source of scarce foreign currency for indebted Egypt, which spent an estimated $8.2 billion on an expansion of the canal that opened in 2015 and included the creation of a 35-km (22-mile) parallel waterway. Canal revenues have increased… https://t.co/0XNVTguuPq
⚠️ SUEZ CANAL HEAD SAYS EGYPT STUDYING FURTHER EXPANSION OF WATERWAY Full Story → https://t.co/6gqniEJqkt Egypt is studying further expansions of the Suez Canal to extend and complete a second channel of the waterway, the canal's head said on Monday, a move that could allow… https://t.co/SOUvZpZSs1
Egypt explores expansion of Suez Canal to enhance transit efficiency https://t.co/zlcg88tTBT https://t.co/spmvAmjoBo
#Egypt Studies Plan to Expand Suez Canal to Speed Up Transit Time #oott https://t.co/82dvAmsc0N
Egypt is carrying out a feasibility study on expanding the Suez Canal to speed up transit times https://t.co/DzScHG2krx
Suez Canal is responsible for almost 15% of global trade But with recent geopolitical tensions, traffic has dropped by 50% To make things worse, freight rates have been rising rapidly This contains major risk for inflation https://t.co/BwCxffSoGU