'The Times' British newspaper reported on Saturday that Israel is close to finalizing a railway route that poses an alternative to the Suez Canal. 
The newspaper said that the "instability in Egypt  has added to the urgency of a project to connect the Mediterranean with the Red Sea."
It added that the events that led to the deaths of tens in the cities overlooking the Suez Cana l has led to the suspension of shipping groups for a few days.
Israel's Prime Minister Benjamin Netanyahu has announced in a cabinet meeting in January that a pipeline is being created to transport goods between Asia and Europe.
He said that the line "has attracted wide attention among developing countries such as China, India and others," he added that the new line will be "a crossroad between continents and is therefore strategically important on the national and international levels."
Meanwhile, an Israeli official told Reuters, "The new line is a protective guarantee for fear that the Suez Canal is burdened by the increasing movement of maritime trade," rejecting that the plan came in response to the political unrest in Egypt and the rise of Islamist parties.