UAE-led consortium completes New Suez Canal

An international consortium led by UAE-based National marine Dredging Company (NMDC) has completed the New Suez CanalProject in Egypt.

The $1.5bn (EGP11.75bn) project was undertaken by the Challenge Consortium, an NMDC-led collaboration that also included Boskalis, Van Oord, and Jan de Nul. News of the completion was announced following a successful trial run of the canal, which took place on 25 July, 2015.

At the launch of the project, Egypt’s President Abdel Fattah al-Sisistipulated that the implementation period should be reduced from three years to one, representing a significant challenge for NDPC and the Challenge Consortium

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