The New Suez Canal development scheme is progressing well and is scheduled to be completed this August.
The opening of the new waterway will almost double the Suez Canal capacity and is expected to increase annual revenues to $13.5 billion by 2023.
The project was launched by the Chairman of the Suez Canal Authority Mohab Mamish in the presence of Egyptian President Abdel Fattah el-Sisi on 5 August 2014.
This scheme is part of the Suez Canal mega project, which includes the development of several seaports in the three governorates bordering the canal, Suez, Ismailia and Port Said, in addition to a seaport in the South Sinai city of Nuweiba and the development of Sharm Al-Sheikh airport.
Included in the project are Boskalis, Van Oord, National Marine Dredging Company (NMDC), Jan de Nul, Great Lakes Dredge & Dock Corporation (GLDD) and Dredging International NV (DEME Group).