Egypt Suez canal expansion 'will be delivered on time'

Egyptian officials say the expansion of the Suez canal - one of the world's most important trade corridors - will be completed on time in August.

Chairman of the Suez Canal Authority, Admiral Mohab Mameesh, told the BBC work was going on around the clock to finish a new lane, which would double the capacity of the waterway.

The 146-year-old canal, which links the Mediterranean and the Red Sea, is the fastest shipping route between Europe and Asia.

It handles 7% of global sea-born trade.

Investment Minister Ashraf Salman told the BBC's Cairo correspondent Orla Guerin that the project was important to restore the confidence of investors.