The Suez Canal Corridor Area Project () is a megaproject in Egypt that was launched on 5 August 2014 by President Abdel Fattah el-Sisi and completed in 2015. The project aimed to increase the role of the Suez Canal region in international trade and to develop the canal cities of Suez, Ismailia, and Port Said. The project involved building a new city (Ismailia), an industrial zone, fish farms, encouraging the development of a tech industry, building seven new tunnels between Sinai and Ismailia and Port Said, improving five existing ports, creating new centers for logistics and ship services, and digging a new canal parallel to the Suez Canal. The new canal was constructed to increase capacity by allowing ships to sail in both directions at the same time. Egyptian President Abdel Fattah el-Sisi announced that the New Suez Canal project would operate within a year (instead of the original plan of three years). The project's authority projected revenues of the canal to increase from 5 billion dollars to 12.5 billion dollars annually. The new canal channel and the seven tunnels were under construction simultaneously. Construction of the rest of the projects (which include building the city, industrial zone, "technology valley", and fish farms) began in February 2015. History The Suez Canal Corridor Developing Project dates back to the 1970s when former Egyptian Minister of Housing, Hassaballah El Kafrawy proposed the project to President Anwar al Sadat. Due to various problems, the project failed to start. He proposed the project again to President Hosni Mubarak in the 1990s, but to no avail. Hassaballah El Kafrawy sought to turn the canal corridor into an international logistics region rather than just a passageway for ships. In 2008, the former Minister of Transportation, Mohamed Mansour again proposed the project. However, the Egyptian government again did not initiate the project. In 2012, the Muslim Brotherhood introduced a development project for the Suez Canal region during the presidential elections. In 2013, Prime Minister Hesham Qandil announced that the government would begin planning for the project. Projects New Suez Canal The New Suez Canal ( ) is an artificial waterway project in Egypt which created a second shipping lane along part of the Suez Canal, and deepened and widened other stretches. The project was inaugurated by the Chairman of the Suez Canal Authority Mohab Mamish in the presence of Egyptian President Abdel Fattah el-Sisi on 5 August