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Egypt’s Maga-Project
World Economy

Egypt’s Maga-Project

Egypt is to unveil a major extension of the Suez Canal on Thursday, a mega-project that has emerged as a cornerstone of President Abdel-Fattah el-Sissi’s efforts to restore national pride and revive the economy after years of unrest, AP reported. The 1869 inauguration of the canal linking the Red Sea to the Mediterranean was hailed as a leap into the modern age, and President Gamal Abdel-Nasser’s nationalization of the British and French-run waterway in 1956 was seen as marking Egypt’s decisive break with its colonial past. That sparked the second of four wars with Israel, including a 1973 offensive launched across the canal that Egyptians celebrate as their greatest military victory.

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