(Photo: zeenews.india.com)
(VOVworld) – Egypt inaugurated a new Suez Canal on Thursday following a year of construction. The 24-meter-depth Suez Canal will help reduce 7 hours of transit time and allows larger vessels to travel.
The new Canal is expected to attract more foreign currencies for the Egyptian government, from 5.3 billion USD in 2014 to 13.2 billion USD in 2023.
The new Suez Canal is considered the top project of President Abdel Fattah Al Sisi and the government, in an effort to recover investors’ trust after 4 years of political instability.