Thursday, January 7, 2016

Egypt 1 Pound 1436 (2015) Suez Canal

Egypt  1 Pound 1436 (2015) Suez Canal

New branch of Suez Canal

        Nominal Value 
   Mintage             Year
         1 Pound 
  25 mm
   40 000 000      1436 (2015)

The New Suez Canal ( قناة السويس الجديدةQanāt al-Suways al-Jadīdah) is the name of a waterway project in Egypt to expand the capacity of the existing Suez Canal. 
The project adds a new 35-kilometre-long (22 mi) second shipping lane in the existing 164-kilometre-long (102 mi) canal, allowing for separated passing of ships in opposite directions. It also includes the deepening and expansion of a 37-kilometre-long (23 mi) section of the existing canal.
The enlarged capacity allows ships to sail in both directions at the same time over much of the canal's length. Beforehand, much of the canal was only one shipping lane wide, with limited wider basins for passing. This is expected to decrease waiting time from 11 hours to 3 hours for most ships,and to increase the capacity of the Suez Canal from 49 to 97 ships a day.
Technical difficulties initially arose, such as the flooding of the new canal through seepage from the existing canal. Nevertheless, work on the New Suez Canal was completed in July 2015. The channel was officially inaugurated with a ceremony attended by foreign leaders and featuring military flyovers on 6 August 2015, in accordance with the budgets laid out for the project.

source: wikipedia/ own