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Egypt says New Suez Canal to open August 6, eyes economic boost

Posted on June 18, 2015

By Ahmed Aboulenein, euronews

Egypt’s New Suez Canal will open on Aug. 6, its overseer said on Saturday, a project President Abdel Fattah al-Sisi sees as a potent symbol of national pride and a major chance to stimulate an economy suffering double-digit unemployment.

The army began work 10 months ago on the $8 billion canal, flanking the existing, historic 145-year-old waterway and part of a larger undertaking to expand trade along the fastest shipping route between Europe and Asia.

The Suez Canal is a vital source of hard currency for Egypt, particularly since the 2011 uprising that scared off tourists and foreign investment.


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