The Suez Canal and the Panama Canal

20% of the world containers pass through the Suez Canal and Egypt just as (missing) in order to collect tolls, and there are no services on both sides of this important shipping line. As for the (Panama) Canal, less than 6% of the world containers pass through it though its length is less than the quarter of the Suez Canal length and it yields revenues outweighing those of the Suez Canal by more than five times.

Despite its remoteness from their path, ships change their course to enter (Dubai) ports to take advantage of their logistic services. This costs them more time and money. Therefore, the completion of the Suez Canal axis development project and carrying out dealings with the same prices of Dubai will bring great benefits to Egypt and the ships passing through the Suez Canal.

Egypt decides to construct three tunnels under the Suez Canal at a cost of five billion pounds

According to the Canal territory development plan, the Egyptian government decided this Sunday to construct three tunnels beneath the Suez Canal at an investment cost of five billion pounds (722 million dollars).