The Suez Canal expansion is expected to be finished in July 2023, after two years of development.
The blockade of one of the world’s busiest commercial routes by the Ever Given container ship last year had a significant negative impact on travel between Europe, Asia, and the Middle East, halting an estimated $9.6 billion (£7 billion) worth of goods every day. Shortly after, the Suez Canal Authority (SCA) unveiled accelerated plans to expand areas of the canal.
Recently quoted by Reuters, SCA Chairman Osama Rabie said: “The project will be completed in 24 months. We started in July 2021 and God willing we will finish in July 2023,”
The Suez Canal expansion project will widen a section of the canal where the container ship became stuck, as well as extend a second section to improve Suez Canal capacity by six ships.
“This will improve ship navigation by 28% in this difficult part of the canal,” Rabie added.