PRESS RELEASE

Egyptians Break Ground for a New Suez Canal

Aug. 13, 2014 (EIRNS)—On Aug. 5, Egyptian President Abdel Fattah el-Sisi conducted a grand groundbreaking ceremony for one of a series of development projects he has promised to launch for Egypt: a second Suez canal, which will run parallel to the existing canal, and double the capacity of the canal. He gave an ambitious time line, saying the 45-mile canal would be dug in a year.

The announced overall plan related to the canal project involves the development of the canal corridor, including new ports, and industrial and economic zones along the canal. The project will be overseen by the military, and carried out by Egyptian companies.

Since he has been elected, Sisi has proposed numerous big development projects, reminiscent of the period of the building of the nation during the time of Nasser, which stood in marked contrast to the Mubarak period, according to Egyptians. In Sisi’s words, it will lead Egypt to an era of industrial and agricultural development.

Since his election, Sisi has promised to develop industry and agriculture, gradually stop exports of mined minerals by building the capability to process them in Egypt, as well as other development projects including nuclear power, small and medium enterprises, and the sectors of health and education.

Sisi has said that the Dabaa Nuclear Plant near Alexandria will be a national project, like the canal project, for the immediate future. The plant is to have two stations, of 1,600 Megawatts and 900 Megawatts.

In a post-election speech in June, he said the Development Corridor project will develop several sectors (as mentioned above), based on the original design of well-known Egyptian scientist Farouk El-Baz, and include a superhighway west of the Nile, going from the Mediterranean Sea to Lake Nasser. El Baz has been interviewed by EIR, and his proposals are well-known to its readers.