News / Can Egypt afford Suez route canal work? Industry and logistics may pay the bills

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With Egyptian president Abdel Fattah el-Sisi set to open the new Suez Canal expansion tomorrow, there have been questions on whether the country can actually afford the project.

The Egyptian government publicly announced that the two-phase project cost E£60bn (US$7.66bn), with the dredge of the second channel of the canal accounting for half of that and a project to build six tunnels under the canal connecting the Sinai peninsula with mainland Egypt representing the remainder.

Financing the project has not been without ...