Suez Canal: Sisi opens symbol of new Egypt

Ismailia - Mohammed, other world leaders attend opening of New Suez Canal; Sisi vows to defeat terrorism.

Egyptian President Abdel Fattah El Sisi inaugurated the New Suez Canal to an audience of world leaders, dignitaries and all walks of the Egyptian society, proclaiming that the Arab world's most populous country would defeat terrorism.
The expansion of the existing shipping lane, along with the opening of the new lane, further cements the Suez as one of the most important and valuable canals in the world.
"Work did not take place in normal circumstances, and these circumstances still exist and we are fighting them and we will defeat them," Sisi said after signing an order allowing ships to cross the new stretch of waterway. "Egypt during this year stood against the most dangerous terrorist threat that would burn the world if it could."
The spectacular inauguration was witnessed by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai; French President Francois Hollande, Russian Prime Minister Dimitry Medvedev, King Abdullah of Jordan, the Amir of Kuwait, His Highness Shaikh Sabah Al Ahmed Al Jabber Al Sabah; and Bahrain King His Majesty Hamad bin Isa Al Khalifa.
The project, which raised $8.5 billion in six days in its first round of funding, will gather revenues of $12.3 billion annually by 2023, more than doubling the canal's current revenue intake.
President Sisi said he hopes the canal will become a symbol of the new Egypt; a gift from the nation to the world, and a demonstration of the determination and commitment of the Egyptian people.
Sisi, in full military regalia, sailed up the canal, flanked by a young boy in military fatigues waving the Egyptian flag, aboard the yacht El Mahrousa, the first ship to pass through the Suez Canal when it was opened in November 1869.
French Rafale fighters and US F-16 warplanes staged a flypast, while helicopters flew overhead and naval vessels escorted the yacht in the televised ceremony.
Thursday was declared a public holiday. Cairo and other cities were decked out in bunting, with fairy lights hung from the Nile river bridges and banners proclaiming "From the mother of the world (Egypt) to the whole world".
Tents for the festivities in Ismailia were erected on the east bank of the Canal. A giant statue of a toiling canal worker with shovel in hand looks over the waterway. Nationalist songs by military brass blared.
The new canal, built parallel to the existing Suez Canal, will see about 50 per cent increase in vessel traffic by 2023, taking the daily transit volume from 49 to 97. Moreover, transit time for southbound vessels will be reduced by up to eight hours in total.
More than 43,000 workers collaborated to complete the project within a calendar year, despite having previously been cited as a three-year project. The construction metrics were colossal, with excavation works amounting to 250 million cubic metres at an estimated cost of $550 million.
More than 242 million cubic metres of soil were dredged during the construction phase, resulting in a new canal stretching 35km in length and dropping to a depth of 24 metres.
"This is a proud day, not only for the Suez Canal Authority and President El Sisi, but also for the entire Egyptian population, which has strived to achieve the near-impossible in order to make this dream become a reality," said Admiral Mohab Mameesh, chairman of the Suez Canal Authority.
"Today, as we unveil this gift to the world, we present a new Egypt; a more prosperous and positive Egypt. And in doing so, we place the Suez Canal at the pinnacle of the shipping industry."
The New Suez Canal has already welcomed a number of vessels during trial periods spanning the last two weeks, but the Suez Canal Authority expects business to grow exponentially following the official launch earlier today.
malzarooni@khaleejtimes

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• MENA