Amwal Al Ghad English - 2015-07-14 09:42:41
Egypt, one of Africa’s biggest economies and tourist destinations, has started its path to economic recovery away from the impact of the 2011 crisis, with the construction of its New Suez Canal, which is set to be commissioned in Cairo this August.
Press and Information Officer at the Egyptian embassy in Nigeria, Ahmed Maher, informed The Nigerian Guardian that the new project which is costing the country about 60 billion Egyptian pounds (US$8.4 billion), will double the traffic of cargo across Africa to Europe, with the prospect of helping Egypt take a huge economic rebound which is expected to trickle down to the small business owners that will trade along the 70 kilometre project.
Already, about 41,000 people have been engaged with the construction which began 10 months ago. Maher said the new canal will double the economic contribution that the old canal is bringing in, especially with the additional six tunnels for cars and rails that are attached. More»