Published On: Mon, Aug 3rd, 2015

Suez Canal completion “astonishing” says ICS

Ahead of the official inauguration of the Suez Canal, the International Chamber of Shipping (ICS) has praised its timely completion as “astonishing”.

“The impression we’re taking away is this is a huge undertaking and it has been completed in a time which is frankly astonishing,” said Peter Hinchcliffe of the ICS.

“It’s very pleasing to see that preparations are in place for the grand opening on August 6. More than that, I think what I will take away today is the desire to continue our dialogue [with the Suez Canal Authority] into the future. That is very important for us because we are representing the customers who will be using the canal in the coming years,” he continued.

It is estimated cost of digging for the project was US$4 billion, as well as an additional US$4 billion spent on the construction of six new tunnels. Official figures are to be released soon.


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