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Completed in 1869, the original canal revolutionized international trade by connecting the Red Sea to the Mediterranean, a shortcut between East and West that spared ships the long journey around the southern tip of Africa. The canal stretched a hundred miles, and 20,000 conscripts a year worked 10 years digging it, according to the official history. Parts of the canal are too narrow for two-way traffic. Canal authorities arrange for ships to take turns passing in convoys heading in alternate directions, and Egypt has been trying for decades to reduce the bottlenecks. The authorities added three side channels in 1955 and another three in 1980. The government has also worked in recent decades on dredging projects to deepen the canal for ever-larger ships. The new side channel to open on Thursday adds 30 miles in an attempt to allow two-way traffic for more of the passage. Although the new channel will not yet allow two-way traffic for the full length of the canal, it will expedite passage by allowing longer or more frequent convoys to pass. That can help attract traffic. For shipping companies deciding between the Suez Canal and other routes, ?it is all about time, and ?how much time can I save?? ? said Willy C. Shih, a professor at Harvard Business School who studies manufacturing and transportation. The creation of jobs, however, will depend on attracting investors to build factories or logistics facilities in planned industrial zones around the canal. And experts said there was little reason to think that shorter transit time would attract investors

Daily News by Eng
Seu destaque ou posição 1534-1546 | Adicionado: sábado, 15 de agosto de 2015 12:02:32
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