Suez Canal gets Bigger

In August Egypt announced a major expansion of the new Suez Canal. This new waterway is expected to boost the traffic that passes through the canal. Till now the canal was smaller and could allow only limited number of ships to pass through it. But with the expansion, it now allows ships especially larger vessels to pass through the canal in both directions simultaneously, thus increasing canal traffic and revenue

About Suez Canal
Suez Canal was opened in 1869 after ten years of construction. It is an artificial waterway in Egypt that connects Mediterranean Sea and Red Sea. The canal allows traders and ships to navigate between Europe without having to take a long turn around Africa. It is owned and maintained by Suez Canal Authority of Egypt.
Suez Canal is an important source of revenue for the country. Egypt earns about 5 billion US dollar every year through Suez Canal.

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