The chairman of the Suez Canal Authority (SCA), Osama Rabie, has confirmed that the expansion of the canal is expected to be completed in July 2023, 24 months after the launch of the project, according to a Reuters report.
The authority has unveiled plans to extend a second channel of the Suez Canal and to enlarge the existing one, after Ever Given blocked the major waterway in March 2021 in the most popular container ship accident in the world, causing significant supply chain challenges worldwide.
The completion of the project will improve ship navigation by 28% in this difficult part of the canal, according to Rabie, who participated in the event entitled “The Suez Canal and Challenges in World Trade” in the Egyptian Pavilion at Expo 2020 Dubai, on 16 January.
“The Suez Canal event aims to strengthen the bonds of cooperation with its partners in success, listen to the clients’ points of view and their evaluation of the performance and policies of the Suez Canal Authority in promoting world trade, as well as explaining the mechanisms of operation and development in the Suez Canal and reviewing the future vision during the coming period,” said SCA in a statement.
