Prince Khaled al-Faisal represents Saudi Arabia in new Canal inauguration

Makkah Emir and Adviser to the Saudi King Prince Khaled Al Faisal will represent the Saudi delegation to the inaugural ceremony of the New Suez Canal, Saudi Ambassador to Egypt Ahmed Abdulaziz Al Qattan said Thursday.

In a phone conversation with MBC Misr TV channel, Qattan said Saudi Arabia will direct more investments to the Suez Canal area, noting that Saudi businessmen will shortly visit Egypt to study offers to be announced by the Egyptian government.

Saudi Arabia is eager to maintain strong relations with Egypt, and the coming stage will witness new horizons to be opened and benefit the Arab and Islamic nations in the economic, political, cultural, energy, transportation and media fields, Qattan added.

As for today's ceremony, the Saudi diplomat said his country allocated four military helicopters to transport visiting world leaders.

The New Suez Canal will massively increase the capacity of the existing canal and offer an important chance to boost the country’s struggling economy.

The new 72-kilometer waterway, built in less than a year at a cost of 60 billion EGP, runs part of the way alongside the existing canal connecting the Red Sea and the Mediterranean.

The legendary project was mostly financed by investment certificates sold to Egyptians.