18 October 2017 10:09 PM

The 1st Anniversary of the New Suez Canal Inauguration

Monday، 08 August 2016 - 04:55 PM

 

Victory of the Egyptian Will in Facing

All Challenges

                                                     

 By: Dr. Ahmed Abul Hassan Zarad

 

Throughout Egypt’s contemporary and modern history, the “Suez Canal” has been a theatre of the national liberation battles and for the defence of the Egyptian national security. From its banks, Egypt passed with all its national forces the most marvelous and noblest battles of reconstruction that proved the ability of the Egyptian man to achieve a giant project (the New Suez Canal) in a definite time (August 5,2014-August 6,2015) with a pure national finance (saving certificates valued at L.E 64 billion bought by the Egyptians in 8 days).

In figures, the dry drilling quantities reached 250 million m3, while the dredging quantities reached 260 million m3 in a major operation throughout the history in pursuance of the concepts and the global maritime criteria.

 

The New Canal is considered a value added to the national economy, represented in the growth of the national income due to the increase of the Suez Canal’s revenues, establishing industrial and economic entities, establishing and developing a number of ports, encouraging the all other factors of production. All these aspects can change the life not only in this area but also nationwide.

After the completion of the New Canal, the figures show that the Canal’s revenues in the first quarter of this year (2016) hit $1.239 billion at an increase of 0.2% than that of the same period last year, which hit $1.236 billion. During the abovementioned period, 4178 ships transited the Canal at an increase of 2.7% than that of the same period last year with 4067 transiting ships.

The net tonnage of the transiting ships reached 238.8million tons at an increase of 3.0% than that of the same period, during which the total tonnage hit 238.1million tons.

On the other hand, the Cabinet Information and Decision Support Centre (IDSC) stated in its report about the indications of the world trade (25 May 2016) that the Suez Canal Authority achieved a positive growth with a ratio of 0.6%, in the first quarter of this year (2016) in a way confirming the competitive power of the Authority, in addition to the opportunities of making leaps with restoring the growth of the world trade movement shortly. Today, we celebrate the 1st anniversary of this giant national project, which we are proud of achieving it by Egyptian labour and funds.

It is a vital project that opens the door wide for a package of giant projects, which will move Egypt to new horizons of comprehensive development in agricultural, industrial and urban fields, etc,…. Moreover, the more important thing is this project proves the strength and the strong will of the Egyptians in spite of all difficulties and challenges.


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