Wednesday 5 August 2015
 
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Suez Canal

Suez Canal ‘add-on’ lane to cut waiting times

Egypt’s Suez Canal, which is set to open on August 6, features an additional lane including 35 km of new channels, which will reduce waiting time for ships, a report said. The new channel also includes a further 37 km of new

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Egyptians ‘can build New Cairo Capital in one year’

Egyptian construction firms will be able to build the New Cairo Capital in one year, said a top official, underlining that the locals have a strong will to achieve their goals. Mohamed Abdel Raouf, a board member of the Egyptian F

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Egypt turns half of summit promises into projects

Egypt has turned more than half of initial agreements signed at a March investor conference into investment projects, the planning minister said, as Cairo tries to regenerate an economy battered by years of turmoil. The government

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Egypt inks $21bn projects with oil giants

Egypt has turned more than half of initial agreements signed at a March investor conference into investment projects, the planning minister said, as Cairo tries to regenerate an economy battered by years of turmoil. The government

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Egypt plans to import 28.6m tonnes of oil

Egypt expects to import 28.6 million tonnes of crude oil, liquefied natural gas (LNG) and other oil products worth a total of almost $16 billion in 2015-16, the planning ministry said on Saturday. The government expects to buy 7.7

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Work on New Suez Canal complete

Egypt has finished building its New Suez Canal, its overseer said on Wednesday, a project President Abdel Fattah Al-Sisi sees as a symbol of national pride and a major chance to stimulate an economy suffering double-digit unemployment.

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Egypt to speed up shipping with new Suez waterway

Egypt plans to allow smaller vessels in the Mediterranean direct access to East Port Said around the clock instead of just eight hours a day by building a side channel near the Suez Canal, which will speed up shipping movements in the area.

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First double crossing in Suez Canal

Egypt’s Suez Canal saw the first test passage of ships moving in opposite directions (double crossing) this week.  One of the ships had net tonnage of 133,000. Three ships entered the new canal through the Ismalia entrance at

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Suez Canal revenue falls to $431m in June

Egypt's revenue from the Suez Canal fell to $431.6 million in June from $449.6 million in May, a government website said on Wednesday. The canal, the fastest shipping route between Europe and Asia, is one of Egypt's main s

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Egypt to open new Suez Canal on Aug 6

Egypt's New Suez Canal will open on August 6, the canal authority chairman said on Saturday, a project that President Abdel Fattah Al Sisi hopes will stimulate an economy suffering double-digit unemployment. The army began wor

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