5 de Agosto
Egypt Plans To Dig New Suez Canal Costing $4 Billion
Egypt plans to build a new Suez Canal alongside the existing 145-year-old
historic waterway in a multi-billion dollar project aimed at expanding trade along
the fastest shipping route between Europe and Asia.
Image Credits: e-nautilia.gr
The Suez Canal earns Egypt about $5 billion a year in revenues, a vital source
of hard currency for a country that has suffered a slump in tourism and foreign
investment since its 2011 uprising.
The new channel, part of a larger project to expand Suez port and shipping
facilities, aims to raise Egypt’s international profile and establish it as a major
trade hub.
“This giant project will be the creation of a new Suez Canal parallel to the
current channel of a total length of 72 kilometres (44.74 miles),” Mohab Mamish,
chairman of the Suez Canal Authority, told a conference in Ismailia, a port town
on the Canal. His comments were broadcast by state television.
He said the total estimated cost of drilling the new channel would be about $4
billion and be completed in five years, though Egypt will strive to finish it within a
more ambitious three-year deadline.
The original canal, which links the Mediterranean and Red Seas, took 10 years
of intense and generally poorly-paid work by Egyptians, who according to the
Canal Authority, were drafted at the rate of 20,000 every 10 months from “the
peasantry”.
It took weeks if not months off journeys between Europe and Asia, otherwise
necessitating a trip round the tip of Africa.
Egyptian President Adel Fattah al-Sisi, a former army chief, said the armed
forces would be in charge of the new project for security reasons. Up to 20
Egyptian firms could be involved in the project but would work under military
supervision, he said.
Last year, Sisi orchestrated the ouster of elected Islamist President Mohamed
Mursi and oversaw a massive crackdown on Mursi’s Muslim Brotherhood. This
was followed by a rise in violence from Islamist militants based in the Sinai
peninsula, which has stoked some concern about the security of the nearby
Suez Canal. The government has since been fighting militants in an ongoing
military campaign in which hundreds have died on both sides.
Any disruption to shipping along the canal tends to have a serious impact on
trade and oil prices.
“Sinai to a large degree has a sensitive status. The army is responsible to Egypt
for this,” said Sisi, who has previously said he would not hesitate to award major
projects to help revive Egypt’s battered economy to the army.
MEMORIES OF NASSER
Sisi’s allies and supporters have likened him to Gamal Abdel Nasser, the
charismatic colonel who led a coup against the monarchy in 1952, set up an
army-led autocracy and rounded up thousands of Muslim Brothers.
In 1956, Nasser nationalised the Suez Canal, leading to a failed invasion by
Britain, which controlled the channel, as well as France and Israel. Nasser was
praised by Egyptians for pursuing several big projects during his 14 years as
president.
Pro-government Egyptian media did not hesitate to compare the Suez
expansion plans to Nasser’s own state-led infrastructure projects that were a
source of national pride.
Egypt has planned for years to develop 76,000 square kilometres (29,000
square miles) around the canal to attract more ships and generate more
income.
Sisi said the new canal was an unannounced part of that project, which Egypt
invited 14 consortia to bid for in January.
Reuters reported on Sunday that Egypt had chosen a consortium including
global engineering firm Dar al-Handasah, as well as the Egyptian army, to
develop the area.
A promotional video played at the launch event suggested the project would cut
waiting times for vessels and allow ships to pass each other on the canal.
Mamish, the chairman, said the project would involve 35 kilometres (22 miles)
of “dry digging” and 37 kilometres (23 miles) would be “expansion and
deepening”, indicating the current Suez Canal, which is 163 km (101 miles)
long, could be widened as part of the project.
Among the bidders, according to Egypt’s Al Mal newspaper, were a group
including state-run Arab Contractors and James Cubitt and Partners, an
international consultancy firm. Another included the McKinsey & Co global
management consulting firm.
Gulf allies Saudi Arabia, the United Arab Emirates and Kuwait donated more
than $12 billion in cash and petroleum products to Egypt after the army
overthrew Mursi. But Egypt remains in dire need of longer-term investments.
( By Oliver Holmes And Stephen Kalin; Additional reporting by Ahmed Tolba,
editing by Lin Noueihed/Jeremy Gaunt)
Fuente:
http://www.marineinsight.com/shipping-news/egypt-plans-dig-new-suez-canalcosting-4-billion/
6 de Agosto
Suez expansion heralds new era
Source: BBC
A US$8.4 billion development will see the Suez Canal in Egypt receive a new
channel running parallel to the current waterway, signalling an era of rebirth
following the 2011 revolution.
At 72km long, the proposed channel will help slash waiting times for ships from
eleven hours to three. The plan also includes tunnels for trains and motorvehicles.
Egyptian leader, President Abdul Fattah el-Sisi, is eager to push regeneration
within Egypt to breathe new life into its economy and provide a vibrant future for
the country after recent political turmoil.
“We will lift our country on our shoulders; we will not leave it or lose it,” Sisi
stated, urging Egyptians to take shares in the project that will be funded by both
the people and the banks.
According to Mohab Mamish, head of the Suez Development Authority,
construction of the new passage is scheduled to take three years, despite
President Sisi ordering the project to be completed in a year.
“As global trade grows, the Egyptian economy needs to develop its sources of
hard currency. We had to think about the project of digging a new Suez Canal,”
Mamish said.
Construction will be undertaken by 37 local companies and the Egyptian army.
Suezis now the second major global waterway undergoing reconstruction, with
the Panama Canal Expansion set to be completed by December 2015.
Fuente:
http://www.porttechnology.org/news/suez_expansion_heralds_new_era/#.U_zXi
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