Egypt to finish East Port Said side channel by June 2016

Egypt expects to finish a side channel in East of Port Said Port by the end of June 2016, head of the Suez Canal Authority Mohab Mamish said on Wednesday.

The side channel is scheduled to be dredged over seven months. It is estimated to cost 36 million U.S. dollars, 7.5 million of which will be financed by the Suez Canal Container Terminal (SCCT), Memish told a news conference in Ismailia.

The total cost of the project will be 60 million dollars. The new channel will be 9.5 km long, 17 meters deep, and 250 meters wide.

"The new side channel would speed up shipping, allow ships with direct entry into the port," Mamish said .

As a gateway to Europe, the project aims to seek new investment opportunities by establishing logistical, industrial and economic zones, Mamish said.

He expects that with the new channel, traffic can grow to 12 million containers each year by 2020.

Sources: XINHUA