People are flocking to the Tahrir Square in Downtown to celebrate the inauguration of the New Suez Canal later Thursday.

MENA correspondent said a large number of people marched from Tahrir Square to Abdel Moneim Riyadh Square in Downtown waiving Egyptian flags, chanting slogans of the Suez Canal and raising pictures of President Abdel Fattah El Sisi.

Tight security measures were taken in Tahrir Square.

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 new canal will cut the waiting period for vessels from 18 hours to 11.

The legendary project was mostly financed by investment certificates sold to Egyptians. Over 60 billion EGP were collected in one week.

Delegations from 102 countries will attend the inauguration of the New Suez Canal.