Kafr el Sheikh governorate will start celebrations of opening the New Suez Canal as of Monday, said Kafr el Sheikh Governor Osama Hamdy Abdel Wahed.

The celebrations will run until Thursday, which will be the date of the official opening of the new waterway, he added in statements on Saturday.

Egypt will inaugurate the New Suez Canal on August 6, which will massively increase the capacity of the existing canal and offer an important chance to boost the country’s economy.

Called the Suez Canal Corridor, the 72-kilometer new project involves a 37-kilometer new waterway and deepening and expansion of the existing 145-year-old Suez Canal along a 35-kilometer stretch.

The project, estimated to have cost about $8.5bn, aims at expanding the Suez Canal region's role as a global, industrial, and logistics center that is environmentally balanced with an integrated economy.

It is also projected to become a global hub due to its logistics and industrial services.

The new route will reduce navigation time from the current 22 to 11 hours. Both canals will be connected by four smaller waterways and together will continue to provide the fastest route for shipping between Europe and Asia.