Middle East

Expansion of the Suez Canal will be completed in 2 years

The Suez Canal Authority has announced that it will accelerate plans to expand parts of the canal and improve ship navigation by 28%.

According to the Suez Canal Authority, ships will pass through the canal in a convoy, and extending the second lane will increase the capacity of six ships. (strap)

The project to expand part of the Suez Canal is expected to be completed in July 2023 after two years of work.

Osama Rabie, chairman of the Suez Canal Authority (SCA), announced on Sunday that it would accelerate plans to expand the canal’s second canal and expand existing canals.

“The project will be completed in 24 months. We will start in July 2021 and God wants us to finish in July 2023,” Rabbie said on the sidelines of the event in Dubai. Told the person.

This was after an Evergiven container ship ran aground last year, blocking the waterways for six days.

In an interview with Saudi Arabia-owned Ashark Television, Rabbie said at the beginning of Sunday that canal revenues are expected to reach $ 7 billion in 2022, but will reach $ 6.3 billion in 2021. He said he was expecting.

read more: Megaship Evergreen leaves the Suez Canal 100 days after landing

Improving ship navigation

The vessels will pass through the canal in a convoy, and the extension of the second lane will increase the capacity of the six vessels, Rabie said without detail.

According to a previously announced plan, the southernmost 30 kilometers of the canal where Evergiven was grounded will be expanded 40 meters to the east and set to deepen from about 20 meters to over 21 meters.

“This will improve the navigation of vessels in this difficult part of the canal by 28%,” Rabie said.

Asked about shipping Iran’s fuel or oil through the Suez Canal, despite US sanctions on Iran’s oil sales, he said, “There is no discrimination regarding the ship’s flag, and Iran’s oil passes through the canal. “.

Hezbollah, an armed group in Lebanon, imported Iran’s fuel last year. He said this was a move aimed at addressing the shortfall. To avoid the complexity of sanctions, the cargo was routed through Syria.

read more:
Egypt’s Suez Canal Network Revenues $ 6.3 Billion Last Year

Source: Reuters

https://www.trtworld.com/business/expansion-of-suez-canal-to-be-complete-in-two-years-53713?utm_source=other&utm_medium=rss Expansion of the Suez Canal will be completed in 2 years

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