Suez Canal Emer Given blocked oil price

Egypt to expand Suez Canal after blockage

CAIRO, May 12, 2021 – The Egyptian government on Tuesday announced plans to widen and deepen the southern leg of the Suez Canal.

The southern section was the site of a March incident in which the 200,000-tonne Ever Given container ship became diagonally lodged, cutting off the vital shipping channel for several days.

 

Under the plan, a 30-kilometre stretch would be deepened from around 20 metres to 22 metres, as well as widened by 40 metres.

The Suez Canal Authority (SCA) estimated losses of USD 12 million-15 million per day in revenues for Egypt during the blockage.

SCA head Lt. Gen. Osama Rabie revealed the expansion plans in a televised event, with President Abdel-Fattah El Sissi in attendance.

The expansion project will take about two years, Rabie said.

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