The UK’s WPP Company for advertising and public relations will organize the New Suez Canal inauguration ceremony scheduled for 6 August, Chairman of the Suez Canal Authority Mohab Mamish announced in a press conference Saturday.
A joined alliance of seven multinational companies headed by WPP and includes Ogilvy and Mather Worldwide has won a tender to organize the canal’s opening ceremony,” said Mamish.
He added that the dredging works in the canal will be completed on July 15.
It is worth mentioning that WPP is the company has organized the Egypt Economic Development Conference that was held on March 13-15. The inauguration ceremony will introduce the project and its advantages to the world, along with the investment opportunities it offers, Mamish said, adding that a number of Egyptian investors will also participate in funding the inauguration.
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The project of the new 72-kilometer long canal was launched in August 2014 with a one-year deadline instructed by Sisi. Egypt hopes the project will increase shipping traffic to 97 ships per day by the year 2023, up from 49 ships at present, and also to increase canal revenues from $ 5.3 billion at present to $ 13.226 billion in 2023, according to Suez Canal Authority.
The communications campaign will consist of a comprehensive, integrated marketing campaign designed not only to embrace and involve the Egyptian people but also tell the story of the canal to a global audience. The campaign will highlight the determination of the Egyptian people in building the new, 72-kilometer canal in just 12 months as well as the impact the canal will have on the country, region and the world.
The campaign will culminate in a gala event on the banks of the New Suez Canal on 6th August. On this historic day, Egyptian President Abdel Fattah al-Sisi will be joined by world leaders to witness the first time traffic has flowed simultaneously north and south through the Red Sea – Mediterranean crossing.
“The New Suez Canal is a symbol of the new Egypt, representing the energy, resourcefulness and determination of the Egyptian people, and is one of the most significant projects to come out of Egypt in modern times. It will enrich our economy and society for decades to come,” said Admiral Mameesh.
The huge engineering project began with a national subscription to raise the necessary funds. In just six days, the Egyptian people raised around US$8.5 billion and work began on 6thAugust 2014. Despite initial estimates indicating the project would take three years, the project is well on course to be completed in less than 12 months.
The Suez Canal has been at the heart of Egypt’s economy for more than 150 years. The project to build a new 72km waterway will enable two-way traffic and double the current daily ship capacity. As a result, the canal authority is set to increase its annual revenue from $5.3 billion in 2015 to $13.2 billion in 2023, as well as underscore the canal’s position as a major maritime trade route against a backdrop of growing competition.
The New Suez Canal is at the heart of a vision to construct a fully developed industrial area along the canal known as the Suez Canal Zone. The zone will see the creation of a huge industrial area catering to a broad range of sectors including manufacturing, logistics, ship repair, and more. With the Suez Canal positioned as a vital component of world trade, the Suez Canal Zone will provide access to 1.6 billion customers worldwide. The project will provide Egypt with investment and employment opportunities for years to come.