The successful passing of three ships through the Canal during Saturday's trial was equivalent to the passing of the nation from darkness to light," the head of the Suez Canal Authority said in a press conference following a trial run of the new waterway
on Saturday, July 25.
Completion of the new waterway
within just one year is being touted as a landmark achievement, rivalling the digging of the original Suez Canal that opened in 1869 after almost a decade of work.
Cairo: Egypt's official and private TV stations are featuring countdown clocks for the inauguration of a new waterway
built alongside the historic Suez Canal, with the comment: "Egypt's gift to the world".
Officials hope the new waterway
will more than double Suez earnings from $5.
The new waterway
will be officially unveiled at a lavish event to be attended by Sisi and foreign dignitaries on August 6.
Additionally to this, the new waterway
will reduce waiting times, and thereforemeet the anticipated increase in the volume of trade exchange.
It is hoped that the new waterway
will help expand trade along the shipping route, which connects Europe to Asia and earns Egypt around $5 billion per year.
Three container ships crossed the new waterway
on Saturday, the state news agency MENA reported: an American ship heading to Port Said from Saudi Arabia, a Danish ship sailing to the United States from Singapore, and a Bahraini ship going to Italy from Saudi Arabia, Reuters said.
The New Suez Canal is more than just a new waterway
and an astonishing feat of engineering.
Construction of the new waterway
will be run by Hong Kong-based HK Nicaragua Canal Development Investment (HKND Group), which is controlled by Wang Jing, a little-known Chinese telecom mogul well connected to China's political elite.
The new waterway
is expected to help revive Egypt's ailing economy by increasing ship traffic revenues, luring huge foreign investments and creating thousands of job opportunities.
However, there was a mishap when the official party took to the boats for an inaugural trip around the new waterway