New Suez Canal

 

Start Date:   8 February 2016 12:00 AMzFeb

End Date:   17 February 2016 12:00 AM

Category:   Press

Location:    

Speakers:   Abdel Fatah El Sisi, PRESIDENT

Attendees:    

Facts and Figures:

Actual dredged quantities according to progress of works258.8 million cubic meters
Duration of execution12 months, including mobilization of dredgers
Consortium's first dredger to be employed in the projectDredger "Al-Marifaa" on Nov. 5th,2014
Quantities of Dry excavation works250 million cubic meters
Highest daily rate of dredged quantities was achieved by dredger "Ibn Batouta" on April 6th,2015230,000 cubic meters
Highest daily output of dredged quantities was achieved on May 31th ,20151.73 million cubic meters
Number of dredgers employed in the project45 dredgers
Number of sedimentation basins20 basins

The Project:
Construction of a new Canal from km 60 to km 95, in addition to deepening and widening of the Great Bitter Lakes by-passes and Ballah by-pass, with a total length of 37 km, (Total length of the project is 72 km)
Idea of the Project:
Creating a new canal, parallel to the existing one, to maximize benefit from the present Canal and its by-passes, and double the longest possible parts of the waterway to facilitate traffic in the two directions and minimize the waiting time for transiting ships. This will certainly reduce the time needed for the trip from one end of the Canal to the other, and will increase the numerical capacity of the waterway, in anticipation of the expected growth in world trade. The project goes side by side with the Suez Canal Area Development Project. The two 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. The project will also have quite a positive impact on the Egyptian national income as it will boost the hard currency earnings, provide much needed job opportunities and create new urban communities.
Project Objectives:
  • Boosting the hard currency earnings for the Egyptian national income
  • Increasing the doubled parts of the Suez Canal to 50%
  • Shortening the transit time from 18 hours to 11 hours for the southbound convoy
  • Minimize the waiting time for vessels to become three hours at most instead of 8-11 hours, the matter that will cut down on trip cost and make the Suez Canal more attractive for ship owners
  • Attract more ships to use the Suez Canal, and add to the Canal classification as an important international maritime route
  • Increase the number of ships that the Canal can handle on a daily basis in order to cope with the expected growth of world trade 
  • Support the Suez Canal Area Development Project and enhance the Egyptian national economy and turn Egypt into an international logistics center
Project Returns and Outcome:
  • Increase the daily average of transiting vessels to 97 ships by the year 2023, up from 49 ships at present;
  • Achieve direct unstopped transit for 45 ships in the two directions, and stepping up the permissible draft to 66ft all through the Suez Canal;
  • 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;
  • Create job opportunities for young people living at the Canal Zone, Sinai, and neighboring governorates; and creating new urban societies as well; and
  • Maximize competitiveness of the Suez Canal, excel its ranking among other alternative canals, and world classification societies due to the high rate of safety accomplished during transits.
Duration of the project:
The project is due to be completed in 12 months (one year).
Dry Excavation works:
Volume of dry excavation works amounts to 258 million cubic meters, at an estimate cost of EGP 4billion.
Revetment works: 
Revetments shall extend along the Canal with a length of 100km; at an estimate cost of EGP 500 million.
Dredging works:
Dredging works amount to about 250 million cubic meters of soil, at an estimate cost of EGP billion 15.
Other related works: 
- Deepening the existing western by-passes of 37 km total length to a depth of 24m (66ft draught):
  • The western by-passes comprise those by-passes at the Great Bitter Lakes of 27km long, and those at Ballah of 10km long
- Digging of 35km of a new parallel waterway, to a depth of 24m, and a width of 317m at water level, so that the new channel can accommodate vessels with up to 66 ft. draught;

This shall bring the overall length of the project to 72km.​