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.