DP World: Suez Canal project benefits global trade

Dubai Ports World said the Suez Canal project benefits global trade in general and the company’s business portfolio in particular, which includes 65 ports around the world.
CEO Mohamed Sharaf said the company is interested in the details of this huge project as it explores investment opportunities in the medium and long terms.
He explained that 70 percent of the container lines between East Asia and Europe that pass through the Suez Canal are giant vessels that need depth, which reflects the strategic importance of the project.
The Suez Canal is the shortest channel between Europe and Asia. It generates revenues of $US5 billion dollars annually, which makes it a vital source of hard currency for Egypt.
President Abdel Fattah al-Sisi inaugurated the new 72-kilometer channel last week at a cost of LE8.2 billion. 
Edited translation from Al-Masry Al-Youm

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