EGP 9 Billion Suez Canal Widening Project Completed

Osama Rabie, Chairman of the Suez Canal Authority (SCA), announced that the national project to expand the Suez Canal’s southern sector had just been completed. The project took two and a half years, and cost over EGP 9 billion.

The project’s goals involved duplicating the canal by 12 kilometres, widening it by approximately 40 metres, and deepening the canal itself by over 20 metres. The canal’s capacity is estimated to boost traffic efficiency by 28%, according to the SCA.

As part of the announcement, it was confirmed that the Suez Canal will not have an increase in transit fees in 2025. Following 2024, the increase was initially intended to jump from USD 300 to USD 500 for vessels transiting through the canal.

Following regional tensions in the Red Sea in 2024, the SCA reported a 61% loss in revenue during the last fiscal year, equating to about USD 7 billion in losses. The SCA noted that, currently, an average of 32 vessels pass through the canal per day, less than half the average in 2023.

The SCA expects large vessels to gradually resume their Red Sea trips throughout March 2025, with full resumption expected by the end of the year.