Egypt's Gift to the World Attracts World Leaders

 

 

Point Roberts WA, NEW YORK, NY – August 6, 2015 – (Investorideas.com newswire) Investorideas.com, a global news source covering leading sectors including the Middle East reports on the grand opening of the New Suez Canal.

 

The New Suez Canal will be “Egypt’s Gift to The World,” according to the new passport stamps being issued going through customs.

 

Purely Egyptian funded, the expansion of the Canal will be President Abdel Fattah el-Sisi’s first big move since becoming president back in 2014. He plans to show the world “a symbol of the new Egypt and a catalyst for change.”

 

The project, expected to take over 36 months, was completed in exactly one year. The Egyptian people raised just over $8 billion US dollars in four weeks to fund the project.

 

Before construction began the original canal earned $5.3 billion US dollars in 2014. The New Suez Canal is expected to more than double the income to about $13 billion US dollars by 2023. The number of ships using the canal is expected to be about 97 by 2023, whereas before there were close to 49 ships.

 

Construction may be complete but plans are still in play to add to the Egyptian job market. Along with jobs created during the construction of the project, there will be continuing development in the areas surrounding the New Suez Canal in order to keep employment up.

 

Read this article in full at http://www.investorideas.com/news/2015/main/08061.asp

 

 

Staff writer Madelyn Forsyth

 

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