Friday, September 12, 2014

Well They are all canals after all

And I did not write a single post about the so-called New Suez Canal project because I feel I have not fully understood all the project's details technically but I can not keep myself from this.

Egypt's Post authority issued a special stamp commemorating the new canal.The stamp is sold for two pounds.

Amazingly the new canal got the same design of Panama Canal !!!!! The photo of Panama Canal being used to celebrate the new canal.

Ferdinand de Lesseps could not be much happier to see his plans like that !!!

By this is not a new Suez Canal , it is only a new branch to the original canal and it is not the first one of its kind there so I do not understand this craze in the media that reminds me with the Toshka project.

Or to be honest somehow I understand , El-Sisi is simply searching for a Mega-project to associate his name with. The problem is that before spending billions on mega-projects , he should spend millions on upgrading and re-building our basic infrastructure. In fact mega-projects need a strong infrastructure. Historically the modern infrastructure of Egypt whether Electricty to telegrams to railways were all associated with old Suez Canal.

Another point the New Suez Canal bonds issued by the government , I am not amazed about the billions Egyptians are keeping for rainy days as much as I am amazed that nobody in the government cares that the internal debt is increasing madly with those bonds.


1 comment:

  1. Hi, Z. Panama canal link needs to be fixed.


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