The Suez Canal expansion project is expected to be completed after two years of work in July 2023, the president of the Suez Canal Authority (SCA) said on Sunday, according to Reuters.
SCA announced plans to speed up plans to widen a second canal and widen an existing canal after the Ever Given container carrier ran aground and the waterway was blocked for six days last year.
Revenue from the Suez Canal reached a record high in 2021, reaching $ 6.3 billion, up from $ 5.6 billion in 2020, according to canal spokesman George Safwat.
About 20,694 ships crossed the canal in 2021, up from 18,830 in 2020, a 10% increase.
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Source From: Capital
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