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Egypt launches Suez Canal expansionof the Suez Canal
The expansion will allow for two-way traffic along part of the route, as well as for larger vessels overall. The construction of the new lane began a year ago, on the orders of Mr Sisi. The El-Mahrousa - the yacht that was the first vessel to pass through the canal when it was built in 1869.Fighter jets and helicopters flew above the ceremony. On the streets of Cairo, banners described the expanded canal as Egypt's "gift to the world".
The project was dubbed as the New Suez Canal. Expansion aims to increase the traffic handled by the canal in order to boost Egypt’s economy and global standing by turning the Suez Canal zone into a global logistics and trade center. It comprises 72km of new channel and bypasses which has deepened the main waterway.
Suez Canal Suez Canal is an artificial sea-level waterway in Egypt. It links the Mediterranean with the Red Sea through Isthmus of Suez Strategically and economically it is one of the most important waterways in the world providing the shortest sea link between Asia and Europe. Its opening had provided alternative route to sea voyage between Europe and India. It had reduced the sea voyage distance between these two regions by about 7,000 kilometres without navigating around Africa. The canal was nationalised by Egypt in 1956 after brief war against the UK, France and Israel. The canal has been a significant income source for Egypt since then.