ISMAILIA, Egypt (AP) — Bulldozers push earth and dredgers spit mud round the clock at Egypt's Suez Canal in a race to quickly expand the strategic waterway for two-way traffic, a project trumpeted by President Abdel-Fattah el-Sissi to revive both the country's damaged economy and visions of nationalist glory. In the short term, it appears to be more of a prestige exercise to boost national pride after four years of demoralizing turmoil and to shore up the image of President Abdel-Fattah el-Sissi as the savior of the nation. At the Suez Canal Authority's headquarters in Ismailia, films shown to journalists and potential investors lavish praise on el-Sissi with an almost Soviet-era extravagance. In televised speeches in which el-Sissi has touted the canal, martial music plays over footage of special forces, tanks and fighter jets interspersed with shots of a vigilant el-Sissi directing officials and inspecting operations. [...] with global shipping trends moving toward the use of ever larger, slow-sailing container ships, the canal stands to maintain an advantage for years to come with the container trade, already the largest single type of vessel to use it in both number and cargo tonnage. Denmark-based Maersk, the largest single customer of the canal, says it wholeheartedly supports the project, calling it a historic effort to enable more global trade and boost prosperity overall. Keith Svendsen, vice president of operations, said the reduced waiting time would allow the company to save some fuel, but that over the long term transparent, properly adjusted pricing policies will keep traffic from taking the route around Africa.
Egyptians Race To Expand Suez Canal, Hoping For Trade Surge
By BRIAN ROHAN, Associated Press, San Antonio Express-News: World
Wed, 03/04/2015 - 12:10am
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