Egypt announces plans to build a second Suez Canal

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What is this new canal building craze that seems to be sweeping the shipping industry at the moment? First, the decidedly odd Nicaraguan plans seem to be gaining remarkable traction, given their enormous cost, and now Egyptian authorities, not content with one, have revealed plans to build a second Suez Canal, as part of its proposals for a huge logistics zone around the existing artery. It is expected to cost $4bn and be completed in five years.