Wednesday, September 10, 2014

Egypt: Suez Canal II feeds Egyptian ambitions

Egypt has begun digging a new Suez Canal, 72 kilometres long, hoping to squeeze money from it by allowing two-way traffic on the Europe-to-Asia shipping route.

Today it takes at least 11 hours, in the single lane, with passing bays. The aim is to cut this to three hours. The alternative is to ship round the bottom of Africa, many thousands of kilometres longer.

One official said expanding the Port Said to Suez shortcut will take five years. President Sissi said he hopes it'll take just one y…