Adm. Ossama Rabiee, leading the Suez Canal Authority (SCA), disclosed that the comprehensive duplication of the Suez Canal's navigational path is currently under extensive review. This phase encompasses several critical analyses, including feasibility, environmental impact, engineering, civil works, and dredging. The SCA is collaborating with renowned global consultancy firms to finalize these studies within an estimated 16 months. This preparatory work is essential before proposing the project to the government, with assurances that the required funding will be sourced from the Ministry of Finance's investment budget, ensuring no additional fiscal strain on Egypt's general budget.
Rabiee outlined the project's objective to facilitate bi-directional navigation, enhancing the Canal's capacity and its ability to serve a broader range of vessel sizes and classes, thereby elevating its global standing and competitive edge. He also highlighted the SCA's commitment to advancing the Canal's infrastructure through numerous development initiatives, prioritizing technical and economic viability in alignment with global trade growth. These initiatives will be financed through the SCA's investment budget, as sanctioned by the Egyptian government.
Source: suezcanal.gov.eg