Abu Dhabi: Expected to fortify the country’s status as a supreme contributor to worldwide economy and trade, the expansion of Egypt’s Suez Canal has instilled a sense of national pride among a number of Egyptians in the UAE.
Coming to fruition in one year, the $8 billion (Dh29.5 billion) project, which will see a new channel parallel to Egypt’s existing 145-year-old Suez Canal, is set to double the longest possible parts of the waterway to ease traffic in both directions, consequently reducing transiting ships’ waiting time.
The ‘new Suez Canal’ will be inaugurated on August 6, a day that will mark a new era of economic stability and potent national pride, according to some officials in the capital.
Ehab Imam Hamouda, Egypt’s Ambassador to the UAE, told Gulf News: “The expansion and duplication of the Suez Canal will not only be a prodigious celebration for Egyptians but also for the UAE, which was a strategic partner in propelling this project to finally come to life.”
“A lot of this was triggered after the project had been agreed upon between the two countries’ leaderships [Egypt and the UAE]. Fulfilled by Egyptian hands, the UAE leadership expressed their keenness about it and confirmed that Egypt is on to a phase of growth and prosperity.”
The expansion is set to increase revenues up to $15 billion by 2023, he added.
“This Thursday will not only mark the inauguration of the newly expanded Channel, but also open doors to future defining projects such as stations to increase the number of ships. It will also feature 73km of new channels to make way for bigger ships as well as help reduce their navigation time, and is a project that is expected to attract investments from all over the world.”
“The new channel will have a positive impact in stimulating international trade and will promote economic growth and stability in Egypt,” Dr Sultan Bin Ahmad Sultan Al Jaber, UAE Minister of State and Chairman of Coordination Office of UAE-funded Development Projects in Egypt, told local media outlets earlier.
He also added that major ports across the globe have already started developing their capacity ahead of the predicted upsurge in shipping and cargo traffic coming from the strategic trade waterway.
Ahmad Abizaid, 33, director of research at a cultural institute in the UAE, said: “It definitely is a great initiative and we are all very excited about the grand opening on Thursday. This project should hopefully put an end to years of Egypt’s economic instability and high rates of unemployment.”
While the expansion is certainly a step towards climbing the ladder of success, the robust reporting that has permeated the web around the upcoming project might foster high expectations among Egyptians in the UAE and across different corners of the globe, he added.
“I hope that our Egyptian government will be able to manage people’s expectations given that a lot has been said about this. I also hope that this initiative drives more projects such as factories to store and maintain these ships. This will hopefully combat unemployment in Egypt, an issue that has lingered on for a long time,” he explained.
Meanwhile, Sherif Zakaria, 50, a civil engineer, told Gulf News: “It brings me great pride to be able to witness the evolution of this project, which will definitely take Egypt to greater heights.”
The channel’s expansion was initially set to be completed over the course of three years. However, the project was accomplished in only one year, which is a sign of perseverance, commitment and determination, he said.
“One cannot argue that this project is promising on so many levels and will hopefully positively impact the country’s economy and open doors to employment, particularly to the younger generation.”
Maisoon Mubarak is a trainee at Gulf News
