Egypt: 18 Things You Should Know About The New Suez Canal

by Benson Agoha | Africa

One of the giant projects embarked upon by Egypt's President in his first year in office was the expansion of the Suez Canal - a very important shipping route that connects the Red Sea with the Mediterranean Sea.

A container vessel passes the new canal after
completion of the expansion project.

As the new Canal launched on Thursday, UK-In-Egypt tweeted: "Michael Fallon MP for Sevenoaks: @NewCanalSuez is a symbol of #Egyptian ambition & desire for more secure, stable & successful future" aboard a tall ship sailing through the new canal.

Michael Fallon MP for Sevenoaks and current
 Minister for Defence is currently in the middle east.
(Credit: UK-In-Eqypt).

Now here are some facts you may want to know.

1. The contract Award was denominated on Egyptians pounds only as a way to make a truly localised project, according to the governor of Egypt's Central Bank. 
2. To finance the project, Egypt issued Investment Certificates and interested persons had to buy them from local banks. The certificates were also made available to Egyptians living abroad.
3. The Suez Canal is a 101-mile-long waterway.
4. It took more than 15 years to plan and build, against repeated political objection, labour shortages and a deadly cholera outbreak.
5. Egypt had to dig a 72 kilometre-long waterway parallel to the Suez Canal, with the aim of increasing the capacity of the vital international shipping route.
6. The new Canal is 24 meters deep.
7. It was completed one year after the go ahead was given, instead a projected three years.
8. The formal reopening itself was publicised for weeks before the August 6th date and was very well celebrated.
9. It is a strategic waterway for Egypt and it brings the state billions of dollars annually.
10. With the expansion the Suez Canal is expected to generate even more billions.
11. The Suez Canal was the first canal that directly links the Mediterranean Sea to the Red Sea as stated above.
12. It was opened for navigation on the 17 the of November 1869.
13. But on the 26th of July, 1956 Egypt nationalized it.
14. President Assisi ensured it was completed with one year.
15. The New Suez Canal cost a reported $8bn (£5.2 bn).
16. $8.5 was raised in just 8 days for the project to begin.
17. During the construction 250 million cubic meters of sand had to be excavated (enough to build 100 great pyramids).
18. It took 43,000 to build.

Watch the video, just released:

Map of Egypt showing the Suez Canal, clearly marked.
(Credit: Wiki).

The opening of the Suez Canal on November 17, 1869.

(Credit: via Wiki)

Egyptian soldiers marked the start of construction a year ago.

With the completion, President Fatta El-Sissi now focuses on building the new $40 bn (£26bn) Capital so as to decongest the densely populated commercial city of Cairo.

Read also related to above: A bigger, better Suez Canal.