The Cairo New Suez Canal is a major engineering project that was completed in 2015. It is an expansion of the original Suez Canal, which was opened in 1869. The new canal is nearly twice as wide and deep as the original, allowing it to accommodate larger ships and more traffic.

The project was funded by the Egyptian government, with the majority of the funds coming from the sale of bonds. The project cost approximately $8.5 billion and took three years to complete.

The new canal is expected to increase Egypt's economic growth by providing a more efficient route for shipping goods between Europe and Asia. It is also expected to generate billions of dollars in revenue for the country, as well as create jobs and other economic benefits.

The canal is located in the Sinai Peninsula and is connected to the Mediterranean Sea and the Red Sea. It has two locks, one at each end, which are used to control the flow of water. The new canal is expected to reduce travel time for ships from the Mediterranean to the Red Sea by up to 25%.

The new canal is a major achievement for Egypt and a major boost to the country's economy. It is expected to bring in billions of dollars in revenue and create thousands of jobs. The project has also been praised for its environmental benefits, as it has reduced the amount of pollution in the area.