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Egypt to inaugurate new Suez Canal Aug 6

May 13, 2015, 11:28 UTC+3 CAIRO
Egypt announced the $8 billion project to build the new Suez canal and modernise the old warerway in August 2014
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© AP Photo/Hassan Ammar

CAIRO, May 13. /TASS/. The new Suez Canal will be inaugurated in Egypt on August 6, President Abdel Fattah el-Sisi said in a televised address.

"The dry digging in the new canal has been 100% completed," Sisi said late on Tuesday, adding that 65% of dredge works had been finished.

He said many foreign leaders had been invited to the inauguration ceremony.

On May 9, el-Sisi invited Russian President Vladimir Putin to attend the canal's inauguration during their meeting in Moscow.

Egypt announced the $8 billion project to build the new Suez canal and modernise the old warerway in August 2014.

The Suez Canal, which carries about 10% of global seaborne trade, is a vital source of revenue for Egypt. The canal opened in 1869 is about 190 kilometres long.

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