Egypt aims to double the revenues of the canal with the new project which was implemented in less than one year.he total length of the project is 72 km, according to the website of the Suez Canal Authority.
The project will increase the daily average of transiting vessels to 97 ships by the year 2023.
The project will increase the Suez Canal revenues from $ 5.3 billion at present to $ 13.226 billion in 2023; an increase equal to 259% that shall positively contribute to Egypt’s national income of hard currencies.
The project goes side by side with the Suez Canal Area Development Project. Both projects will add to the importance of the Suez Canal and will make it the route of choice for ship owners the world over, putting any alternative routes out of competition.