"Egypt plans to build a new Suez Canal alongside the existing 145-year-old historic waterway in a multibillion dollar project aimed at expanding trade along the fastest shipping route between Europe and Asia.
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Egyptian President Adel Fattah Al Sissi, said the armed forces would be in charge of the new Suez Canal project, which could bring in an estimated $5 billion in revenue per year, for security reasons. Up to 20 Egyptian firms could be involved in the project but would work under military supervision, he said."