A total of 248.54 million cubic meters of water-saturated sand have so far been lifted at the new Suez Canal lane project, a report issued by the project's executive administration said.

The figure represents 94.95% of the target of 258 million cubic meters, the report said.

Currently, 34 dredgers are working on the project's three sectors, the report said.

Meanwhile, Ismailia Governor Yassin Taher held a meeting with a number of executive officials to discuss main preparations of the project's official inauguration planned on August 6.

On 5 August 2014, President Abdel Fattah El Sisi launched the new waterway project, which is being dug alongside the Suez Canal. It is meant to add an extra lane to the Suez Canal, one of the world's most important thoroughfares for trade, in an attempt to increase the number of ships using it each day.

The Suez Canal, which allows ships to travel from Europe to Asia without navigating around Africa, only provides for one-way traffic, with occasional room for ships to pass each other. The new lane would allow ships to travel in both directions.