The Suez Canal Corridor Area Project (Arabic: مشروع تطوير محور قناة السويس) was a megaproject in Egypt that was launched on 5 August 2014 by President Abdel Fattah el-Sisi and was completed in 2015. The project aimed to increase the role of the Suez Canal region in international trade and to develop the canal cities of Suez, Ismailia, and Port Said.

The project involved the construction of a new city, Ismailia, along with an industrial zone and fish farms, aimed at promoting the development of the tech industry. Additionally, seven new tunnels were built between Sinai, Ismailia, and Port Said, and improvements were made to five existing ports. The project also included the creation of new centers for logistics and ship services, and the digging of a new canal parallel to the Suez Canal. The purpose of the new canal was to increase capacity by allowing ships to sail in both directions simultaneously.

Egyptian President Abdel Fattah el-Sisi announced that the New Suez Canal project would operate within a year (instead of the original plan of three years). The project's authority projected revenues of the canal to increase from 5 billion dollars to 12.5 billion dollars annually. The new canal channel and the seven (7) tunnels were under construction simultaneously. Construction of the rest of the projects (which included building the city, industrial zone, "technology valley", and fish farms) began in February 2015.

The Suez Canal Corridor Developing Project dates back to the 1970s when former Egyptian Minister of Housing, Hassaballah El Kafrawy proposed the project to President Anwar al Sadat. Due to various problems, the project failed to start. He proposed the project again to President Hosni Mubarak in the 1990s, but to no avail. Hassaballah El Kafrawy sought to turn the canal corridor into an international logistics region rather than just a passageway for ships.

In 2008, the former Minister of Transportation, Mohamed Mansour again proposed the project. However, the Egyptian government again did not initiate the project.

In 2012, the Muslim Brotherhood introduced a development project for the Suez Canal region during the presidential elections. In 2013, Prime Minister Hesham Qandil announced that the government would begin planning for the project.

The New Suez Canal (Egyptian Arabic: قناة السويس الجديدة Kanāt El Sewēs El Gedīda) is an artificial waterway project in Egypt which created a second shipping lane along part of the Suez Canal, and deepened and widened other stretches. The project was inaugurated by the Chairman of the Suez Canal Authority Mohab Mamish in the presence of Egyptian President Abdel Fattah el-Sisi on 5 August 2014. The new canal opened one year later in a ceremony attended by several international dignitaries including the then French President François Hollande.

The New Suez Canal is expected to expand trade along the fastest shipping route between Europe and Asia. The new canal allows ships to sail in both directions at the same time. This decreases transit time from 18 to 11 hours for most ships. The expansion is expected to double the capacity of the Suez Canal from 49 to 97 ships a day.