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Egypt Reviews New Suez Canal Achievements

Egypt reviews new Suez Canal achievements

Egypt Reviews New Suez Canal Achievements

The Suez Canal Authority (SCA) has produced the following information on the 4th anniversary of the new Suez Canal.

Celebrating the 4th anniversary of the New Suez Canal Inauguration – August 6, 2019

President Sisi did as promised. Today, Egyptians get their investment certificates’ money back with interest and immense gratitude for their patriotic stand. The financial year of 2018/2019 records the highest annual revenue at an increase of 5.4%, equivalent to $300 million compared to the previous financial year.

The Canal reaches a record breaking number of 81 transiting vessels in one day at 6.1 million tons, and preparations are underway for the World’s largest container ship of the “Megamax 24” class at 23,000 TEUs first transit through the Suez Canal.

Leaps of urban development transforming the region with 4 mega tunnels and 5 floating bridges connecting the two banks of the Canal, and a mega fish farming project for sustainable development. $25 billion of investments in 192 projects in the Suez Canal Economic Zone, to be increased by $55 billion in the coming 15 years, providing one million job opportunities for the youth.

Today, we commemorate the inauguration of the New Suez Canal four years ago by his Excellency, the Egyptian president, Abdelfattah El-Sisi on August 6, 2015. The project that saw the light in less than one year to facilitate world trade and increase the numerical capacity of the Suez Canal.

The SCA chairman, board of directors and employees are filled with gratitude towards his Excellency, the president, for his unlimited support for the project. All these efforts are in light of the President’s plan to rebuild the country in every aspect to fulfil the aspirations of the people in a better future, and for Egypt to regain its leading position politically and economically. We, the SCA employees, wish his Excellency’s endeavors all the success, and we promise to spare no effort to safe keep the Canal’s success at the heart of world trade.

We are also thankful to the millions of the great Egyptian people who lined up in front of banks to fund mega national projects raising EGP 64 billion in only eight days.

Today, the Egyptian president fulfils his promise as we are proud to announce the refund of the investment certificates’ money with interest to the people with all the gratitude to all who took part in seeing this great achievement through, and their patriotism for a better future for the generations to come.

Main goals behind the New Suez Canal project:

  • Preparing the Canal to cope with the growth in world trade, and the increase in the sizes and tonnage of transiting vessels
  • Raising the competitive edge of the Canal and its world ranking with the increase in doubled parts and significant decrease of the transit time from 22 to 11 hours, thus reducing the overall trip
  • Raising the safety rating of the waterway with the presence of a parallel canal which proved extremely useful over the past four years
  • Eliminating competition from alternative maritime routes
  • A corner stone in the Egyptian national project to get the economy back on track and increase the Canal’s foreign currency revenues

The Suez Canal achieved new records of revenues, number of transiting vessels and tonnages after the inauguration of the New Suez Canal to refute rumors and claims against it.

Here are some numbers achieved in this past period:

  • The financial year 2018/2019 recorded the highest annual revenue to date at $5.9 billion at an increase of 5.4%, equivalent to $300 million compared to the previous financial year
  • 70,679 transiting vessels during the same period carrying 4,268 billion tons of cargo
  • A record breaking EGP 103 billion of revenues in during the same financial year

The Canal reaches a record breaking number of 81 transiting vessels in one day at 6.1 million tons, and preparations are underway for the World’s largest container ship of the “Megamax 24” class at 23,000 first transit through the Suez Canal.

The Canal has successfully accommodated the world’s largest container vessels over the past four years as an affirmation to the world’s leading shipping lines that are competing to build larger ships of its ability to receive vessels of large draughts. Aug. 2nd recorded the transit of 81 ships, the highest number of transiting vessels in one day to date, at 6.1 million tons. The SCA also has preparations underway for the first transit through the Suez Canal of MSC GULSUN, the World’s largest container ship of the “Megamax 24” class at 23,000 TEUs. She is one of 11 sister vessels MSC has had under construction since 2017. The vessels are set for operations between the Far East and North-Western Europe via the Suez Canal as part of the AE 10/SILK service in collaboration with Maersk Line.

Leaps of urban development transforming the region with 4 mega tunnels and five floating bridges connecting the two banks of the Canal, and a mega fish farming project for sustainable development.

In April of 2017, the Egyptian president appointed Admiral Mameesh as the chairman of the Suez Canal Economic Zone, and since that day the developmental projects witnessed leaps forward with $25 billion of investments in 192 projects, to be increased by $55 billion in the coming 15 years, providing one million job opportunities for the youth.

Now, allow me to share with you an overview of the work done so far.

Developmental projects in the Canal region including the following:

  • Connecting the banks of the Canal at the 3 cities on the waterway to facilitate the movement of the people and better serve the projects in the area through:
    1. 36 ferries in eight locations along the Canal; including 13 new ones (7 of 320 tons, and 6 of 210 tons)
    2. Upgrading and raising the efficiency of Ahmed Hamdy tunnel at 142.5 km mark (Suez Canal numbering) in Suez
    3. Floating Bridges: phase one was the Nasr Bridge in Port-Said, and phase two had the Ahmed Mansy Bridge in Nemra 6 in Ismailia, and Abanoub Bridge in East Qantara. They were followed by Ahmed Shabrawy Bridge in Sarabium, and Taha Zaki in Al-Shat area in Suez.
    4. Tunnels Under the Canal: four new 30 m. deep tunnels, two in Ismailia and another two in Port-Said. Construction works were under the supervision of the Engineering Authority of the Egyptian Armed Forces. The president inaugurated the Ismailia tunnels last May, and the Port-Said tunnels are set to be inaugurated very soon.
    5. The Engineering Authority have already started the construction works in a tunnel to the north of Ahmed Hamdy tunnel in Suez at a length of 3,200 metres to be run by the SCA.
  • Inaugurating the first and second phases of the fish farming project on 7,500 feddans for the local market and export as well by the Suez Canal Fish Farming Company.
  • Upgrading the SCA’s fleet of vessels by the addition of the multi-purpose service vessel “Ahmed Fadel” which is currently working on the Zohr natural gas field in the Mediterranean upon a two year contract with Petrobel as of 2018. The latest addition was the oil services vessel “Aman” which is one of the largest of its kind in the Middle East.
  • East Port-Said Port development project which aims to transforming it into a hub port so the region would be the beating heart for world trade. 5 km. of quay walls were constructed with 18.5 m. of draught so it accommodates Triple E vessels. That is in addition to developing the logistics area on 24 km² to allow the port to receive large investments.
  • Developing an industrial area on 63 million m² for factories, investment services facilities and administration buildings.
  • Upgrading the Sokhna Port infrastructure, constructing a cargo yard and automating the entire port as well as building a container and cargo handling terminal.
  • Building new ports at strategic locations with features that allow the accommodation of the largest vessels, in addition to building new quays, logistics centres and container terminals with the proper infrastructure.
  • SCA dredgers taking part in a number of national projects (East Port-Said Port development project – dredging the strait of Damietta – dredging Gargoob Port – clearing the water of Lake Manzala – working with the Ministry of Transport to install navigation aids (buoys) made by the SCA along the Nile to help reestablish river transport, as well as dredging the waterway to promote navigation through it, and building a number of ferries and floating bridges to facilitate crossing it)
  • Helping with upgrading the Egyptian fishing boats fleet by with a 100 fishing boats set to be built by the SCA affiliated companies as per the presidential directives.

SCA shipyards and affiliated companies. A new opportunity for economic development.

Serious steps have been taken towards implementing the development strategy of the SCA shipyards and affiliated companies through adopting new activities, and the optimization of their potential so it partakes effectively in the Canal region’s development.

The first fruits can best be seen in the partnerships with international companies; like the founding of “The Challenge” – Egyptian Emirates Marine Dredging Company, an Egyptian joint stock company that was the result of collaboration between Canal Harbor and Great Projects Company (CHP) and National Marine Dredging Company (NMDC). This company’s aim is to work on developing Egyptian ports and raising their efficiency, and to meet the regional needs in the field of dredging.

 And finally, we would like to extend our deepest appreciation for the continuous support of his Excellency Abdelfattah El-Sisi, the president, to the SCA projects of development and for holding the country’s best interest at heart.. Thanks to the Egyptians for their trust in a wise leader, and funding the New Suez Canal project.. Thanks to the Egyptian Armed Forces for their invaluable role protecting the Canal and world trade to ensure the delivery of vital goods all over the world in the shortest time possible. We pledge to spare no effort here in the SCA with all its men and women working day and night, and in the Suez Canal Economic Zone to see that Egypt is back in its leading position once more, and for the Canal to remain, as it has always been, the lifeblood of world trade.

Source: SCA

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