76,000 people seek jobs in New Suez Canal project

Nearly 76,000 persons seek to work in the New Suez Canal project, said a statement by the Ministry of Manpower.

The figure was announced by Minister of Manpower Nahed Ashri during a visit to the project.

She met with the Ismailia governor and the head of the army's engineering authority who supervises the New Suez Canal project.

Egypt will inaugurate the New Suez Canal on August 6, which will massively increase the capacity of the existing canal and offer an important chance to boost the country’s struggling economy.

Called the Suez Canal Corridor, the 72-kilometer new project involves a 37-kilometer new waterway and deepening and expansion of the existing 145-year-old Suez Canal along a 35-kilometer stretch.

The project, estimated to have cost about $8.5bn, aims at expanding the Suez Canal region's role as a global, industrial, and logistics center that is environmentally balanced with an integrated economy.

It is also projected to become a global hub due to its logistics and industrial services.

The new route will reduce navigation time from the current 22 to 11 hours. Both canals will be connected by four smaller waterways and together will continue to provide the fastest route for shipping between Europe and Asia.