São Paulo – Egypt will widen and deepen the southern part of the Suez Canal, where a container ship got stranded in late March, the country’s president Abdel Fattah El-Sisi announced earlier this week after approving the Suez Canal Authority (SCA)’s plan.
SCA head Osama Rabie said the project will last 24 months and encompass 40 kilometers from the 122-km mark to the 162-km mark. The stretch between the Suez city and the Great Bitter Lake area will be widened by 40 meters and deepened from 66 to 72 feet. The remaining 10 kilometers will also be expanded so that it allows more ships to pass.
President El-Sisi said the work improves the canal taking into account the growth of global trade. In 2014-15, Egypt spent more than USD 8 billion on the northern section of the canal and will now invest on its southern part.
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After the stranded vessel was freed, the Egyptian president pledged investment to avoid any repetition of fact. Due to Suez Canal closure in late march, Egypt lost between USD 12 million and USD 15 million in revenues for each day.
The 400-meter-long stranded ship was refloated and is currently held by the Egyptian authorities until its company pays a compensation claim of USD 600 million. The Canal closure interfered in the world ship traffic and global trade.
The information is from the websites of the newspapers Al Ahram of Egypt and Arab News of Saudi Arabia.
Translated by Guilherme Mira
