New canal project assigned to 33 companies

Military spokesperson Mohamed Samir said that the excavation of the new Suez Canal began last Wednesday, adding that the project would enrich international trade and would achieve development for Egypt. 

He added in a statement on Sunday that the armed forces are completing the project in 12 months instead of 36 months by assigning the job to 33 Egyptian civilian companies.
President Abdel Fattah al-Sisi had inaugurated the  72-kilometer parallel canal last week. 
The project aims to increase national income, raise revenues by 259 percent and provide one million jobs at industries on the banks of the canal, including shipyards, container service facilities, car manufacturers and advanced technology factories, as well as wood and textile industries, all intended to yield quick returns and provide food security. 
It also seeks to reduce transit time of ships from 11 to three hours and increase the number of ships crossing daily from 49 on average in 2014 to 97 in 2023.
Edited translation from Al-Masry Al-Youm

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