Name and Location
New Suez Canal project, Cairo, Egypt.
Client
Suez Canal Authority (SCA).
Project Description
The Suez Canal is currently only wide enough for ships to travel in one direction, with a few places allowing for two-way traffic.
The new 72 km Suez Canal will run alongside the existing channel, allowing for permanent two-way operation along a section of the canal’s 193 km length. The new canal will double the current daily ship capacity and allow the simultaneous transit of north- and southbound vessels.
The new canal will partially run in parallel to the current waterway and partially entail the widening and deepening of existing parts thereof.
Value
$8.4-billion.
Duration
The project will begin this year and is expected to be completed in 2015.
Latest Developments
The opening of the expanded Suez Canal is set for August 6 – exactly one year after first breaking ground on the project.
The New Suez Canal, which is more than 80% complete, with 210-million tons of sand excavated, is expected to increase the capacity of the channel from the current 49 ships a day to 97 ships a day in 2023, and allow for the direct nonstop transit of 45 ships a day in both directions.
According to the SCA website, it will also reduce ships’ waiting times, from the current 8 hours to 11 hours, as well as reduce transit times for the convoy north from 18 hours to 11 hours.
Key Contracts and Suppliers
Royal Boskalis Westminster, Van Oord, NMDC and Jan de Nul (canal expansion) Dredging International and Great Lakes Dredge & Dock Company (deepening and widening).
On Budget and on Time?
Yes.
Contact Details for Project Information
Suez Canal Authority, tel +2 064 3393950 or +2 064 3392823.
Royal Boskalis Westminster investor relations Martijn Schuttevâer, email ir@boskalis.com.
Van Oord, Robert de Bruin, tel +31 88 8268234 or email robert.debruin@vanoord.com.
DEME, Ann Wittemans, tel +32 3 210 67 94 or email wittemans.ann@deme-group.com.