Egypt says it has successfully completed a test of an extension to the Suez Canal (archive image). (Image: Getty)
An incredible new extension to the has passed its first test in a bid to turn around the Egyptian waterway’s fortunes.
announced it had succeeded in testing the 6.2 mile (10km) channel near the southern end of the canal, which is a key trade route between Europe and Asia.
It comes as revealed its revenue from the waterway has plunged amid Houthi militants’ attacks on vessels in the Red Sea.
The Suez Canal Authority said two ships navigated through the new stretch of the canal’s two-way section without any mishaps during a trial run.
Egypt accelerated plans to extend the canal’s second channel after the container ship for six days.
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The container ship Ever Given blocked the vital waterway for six days when it ran aground in 2021. (Image: Getty)
Revenue from the canal, which is 120 miles (193km) long, has plummeted since Yemen’s militants started to attack ships in the Red Sea in solidarity with Palestinians in Gaza.
Egyptian President Abdel Fattah al-Sisi said on Thursday (December 26) that the country had lost about £5.5billion ($7bn) in revenue from the Suez Canal this year, a drop of more than 60% on 2023.
The expansion brings the total length of the two-way section to 51 miles (82km) from a previous 45 miles (72km), according to the Suez Canal Authority.
It said in a statement reported by the news agency: “This expansion will boost the canal’s capacity by an additional six to eight ships daily and enhance its ability to handle potential emergencies.”
Egypt announced earlier this year that it was considering another expansion project separate from the 6.2 mile channel extension.
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Houthi rebels have attacked ships in the Red Sea. (Image: Getty)
The waterway is a major source of foreign currency for Egypt, which spent an estimated £6.5bn ($8.2bn) on an expansion of the canal, which opened in 2015.
The route improved significantly between the opening of the Suez Canal in 1869 and its nationalisation in 1956.
These increased the canal’s depth to 13.5m and widened it from 22m to 42m. According to the Suez Canal Authority, the volume of water has increased from 304m2 to 1250m2, while the permitted draft has gone from 2.4ft to 35ft.
Along with other mega-projects in the country, the 2015 scheme has been blamed for Egypt’s mounting debt burden.
Egypt’s total external debt stock has rocketed recently, rising from £29.1bn ($36.8bn) in 2010 to £133.3bn ($168.1bn) last year, according to Egypt Today.