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02 December 2008 The on-line newspaper devoted to the world of transports 09:19 GMT+1



November 28, 2006

Egypt to Spend $5 Billion on Suez, Allow Supertankers

By Abeer Allam

Nov. 28 (Bloomberg) -- Egypt plans to spend at least $5 billion over five years to expand the Suez Canal, speeding up Middle East oil shipments to Europe and the U.S. and increasing revenue from the world's longest man-made waterway.

The canal will be deepened by 10 feet and widened by 17 percent to an average of 365 meters (1,198 feet), Admiral Ahmed Fadel, chairman of the Suez Canal Authority, said in an interview in Ismailia ......
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