Ascom Geology & Mining wins initial New Suez Canal contract

Egypt’s Ascom Geology & Mining has won the contract to complete dry sand excavation of a 1km-long and 400 metre wide section of the New Suez Canal, Qalaa Holdings announced today.

Ascom is one of three companies owned by Qalaa Holdings that is working on the project. It has already completed initial survey work on its assigned segment.

“ASCOM brings to this project clear experience as the leading provider of quarrying services to Egypt’s cement industry,” Qalaa Holdings chairman Ahmed Heikal said.

The New Suez Canal comprises a 72km-long waterway parallel to the existing canal plus a 76,000 square km industrial zone and logistics hub.