The proposal includes the creation of a second channel and extending the canal's capacity, aiming to prevent bottlenecks that can disrupt trade between Asia and Europe.
The decision to consider these expansions comes as the Suez Canal has experienced a decline in revenue, with shipping firms choosing alternative routes to avoid potential threats in the Red Sea. Egyptian authorities are now looking into extending the canal by 10 km, along with widening and deepening specific sections. This ambitious project aims to increase the canal's capacity, ensuring it remains the most efficient route between Asia and Europe.
The urgency for expansion was emphasized by the Ever Given incident in March 2021, where a large container vessel blocked the canal for six days. The proposed expansion, funded by the Suez Canal Authority’s investment budget, includes ecological, feasibility, and engineering studies to accommodate larger vessels and enhance the canal's competitiveness globally.
By extending the "dual carriageway" portion of the Suez Canal, allowing simultaneous southbound and northbound traffic, Egypt aims to improve the canal's operational efficiency. Pending presidential ratification after feasibility studies, the extension is expected to recover lost revenues and reinforce the canal's strategic importance in global trade.
With a 10 km extension of the double-channel portion on the horizon, stakeholders are optimistic about the canal's prospects. Egypt's commitment to addressing vulnerabilities and optimizing the canal's capacity demonstrates its dedication to playing a vital role in global maritime trade. As these infrastructure development plans unfold, the international community awaits the potential ripple effects on global commerce and geopolitical stability
