President of Evangelical Church in Egypt Andrea Zaki congratulated President Abdel Fattah El Sisi and the Egyptians over the completion of the New Suez Canal Project due to open on Thursday.

"This giant project represents Egyptians' hope in a better future," Zaki said in a cable to the president.

Egypt inaugurates the New Suez Canal on Thursday, which will massively increase the capacity of the existing canal and offer an important chance to boost the country’s struggling 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.