Egypt to gift the new Suez Canal on August 6

Egypt’s new Suez Canal is expected to open in early August in a project president Abdel Fattah al-Sisi sees as a potent symbol of national pride and to boost the country’s battered economy.

The army began work 10 months ago on the $US8 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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Source Credits: ABC News AU

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