CAIRO: Egypt has begun the first trial run of its ‘new Suez canal’, ahead of the formal inauguration of the new shipping route next month. Dubbed the Suez Canal Axis, the new 72-kilometre project is aimed at speeding up traffic by reducing the waiting period of vessels, and boosting revenues for Egypt. Six vessels in two fleets of three each were scheduled to cross through the expanded canal as part of the run. The fleet sailing from south to north had vessels flying flags of Singapore, Luxembourg and Bahrain. Those sailing from north to south had flags from Liberia, Singapore and Hong Kong. The new waterway involves 37 kilometres of dry digging and 35 kilometres of expansion and deepening of the Canal. The canal is part of an ambitious plan to develop the surrounding area into an industrial and commercial hub. Authorities raised $9 billion to build the new canal by selling shares in the project to domestic investors.
Published in The Express Tribune, July 26th, 2015.
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