Egypt plans to build a new channel parallel to the Suez Canal to boost capacity

Mohab Mamish, head of the Suez Development Authority, said:

  • The project will reduce maximum waiting hours for ships to three hours from 11 hours
  • Construction of the new passage is scheduled to take three years, though President Abdel-Fattah El-Sisi has ordered it to be completed in a year

OK then, you’ve got 1 year to do a 3 year job. Stop doing press conferences, get digging.

More at Bloomberg.