Egypt plans to dig $4 billion new Suez Canal

Transport and Related Services

Egypt plans to build a new Suez Canal next to the existing one which is 145-year old waterway in a multi-billion dollar project to boost trade activities.

The 72Km passage will extend the fastest shipping route between Europe and Asia and facilitate ships to pass each other as well as cut down on waiting times for vessels from around 11 hours to three.

Suez Canal project is among various mega projects planned to bring in life into the nation, tender which involves modernizing the canal ports and industrial zones.Read complete story at http://www.tendersontime.com/blog-detail/egypt-plans-dig-4-billion-new-suez-canal-244.php