Story highlights Egypt's President Abdel Fatah el-Sisi hopes facelifted Suez Canal will breathe new life into economy

Canal earned $5.5 billion in 2014, which government hopes to increase to $13.5 billion by 2023

(CNN) It's arguably the most strategic waterway in the world. One that affects most lives on the planet. The Suez Canal may cut Africa off from Asia but it's a vital lifeline connecting the East and West.

Now Egypt's President Abdel Fatah el-Sisi hopes its facelift will breathe new life into Egypt's economy.

Everything about this project is ambitious. The funds needed for the new 70 kilometers of canal was raised within eight days. Only Egyptian citizens could invest in the project.

The President gave responsibility of completing the task to Vice Admiral Mohab Mameesh of the Suez Canal Authority. After consulting experts he concluded it would take five years to complete -- but that wasn't good enough.

"It would take five years, but we pushed and we made a pressure at the time and it will arrive in three years," Mameesh said. "But when [President el-Sisi] told me in one year, I said yes and changed all the plans."

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