Egypt opens major expansion of Suez Canal

PanARMENIAN.Net - Egypt has opened a major expansion of the Suez Canal, which deepens the main waterway and provides ships with a 35km (22 mile) channel parallel to it, BBC News reports.

At the inauguration, Egyptian President Abdel Fattah al-Sisi welcomed foreign leaders aboard a historic yacht as helicopters and fighter jets flew by.

The expansion aims to increase the traffic handled by the canal. Egypt's government hopes the revenues will revive the economy - but analysts have questioned the projections, the BBC says.

Egyptians commenting to the international press and on Twitter appear divided over the project, with many asking if the $8.2bn spent on the expansion could have been better deployed on improving infrastructure and public services.

The expansion will allow for two-way traffic along part of the route, as well as for larger vessels overall. The construction of the new lane began a year ago, on the orders of Sisi.

The former military leader, elected last year as a civilian, welcomed foreign guests including French President Francois Hollande and Russian Prime Minister Dmitry Medvedev.

Fighter jets and helicopters flew above the ceremony. On the streets of Cairo, banners described the expanded canal as Egypt's "gift to the world".

Takings from Suez could also be hit by an expansion of the Panama Canal, due to be completed next year, which will compete for traffic along the Asia-North America route.