08:44 GMT +324 October 2019
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    A general view of the Suez Canal is seen from Al Salam Peace bridge on the Ismalia desert road before the opening ceremony of the New Suez Canal, in Egypt

    Egypt May Offer Russia to Invest in New Suez Canal

    © REUTERS / Amr Abdallah Dalsh
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    Egypt will offer Russia to invest in the infrastructure of the New Suez Canal during the upcoming on July 12-15 Cairo delegation visit, a member of the International Affairs committee in the lower house of the Russian parliament Anvar Makhmutov said Tuesday.

    MOSCOW (Sputnik) — He added that another issue to be discussed is a possibility of resuming directs flights between Russia and Egypt, which were suspended after the crash of a Russian airliner in in Egypt's Sinai Peninsula on October 31, 2015.

    "The Egyptians offer Russia, as one of the closest partners, to participate in the development of the industrial areas close to the channel. This is a evidence of the level of trust which Egypt has towards us," Makhmutov told Izvestiya newspaper in an interview. 

    The Suez Canal is the fastest link between Asia and Europe and accounts for around 7% of global seaborne trade. It has long been a principle source of state revenue for Egypt.    


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