Egypt To Dig New Canal Alongside Suez Canal: Authority Chairman - Presented by: The Aol. On Network

Egypt said on Tuesday it would build a new 45-mile canal alongside the existing 145-year-old historic waterway in a multi-billion dollar project aimed at expanding trade along the fastest shipping route between Europe and Asia. The Suez Canal earns Egypt about $5 billion a year in revenues, a vital source of hard currency for a country that has suffered a slump in tourism and foreign investment since its 2011 uprising.



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