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Suez Canal Revenue to Double by 2023
Source: 6/27/2018

Suez Canal has registered the highest revenues in its history with an increase by more than 13 percent, recording $600 million in 2018, Chairman of the Suez Canal Authority Mohab Mamish said during a seminar at Bibliotheca Alexandrina .

The event was celebrating 150 years since the first inauguration of the Suez Canal and was attended by Director of the Bibliotheca Alexandrina Mostafa el Feki and the Director of the Center for Documentation of Cultural and Natural Heritage Dr. Fathi Saleh.

The Suez Canal revenues will double by 2023, offering potent support to Egypt's budget, Mamish added.

President Abdel Fattah El Sisi will inaugurate four tunnels in the Suez Canal Economic Zone to link Sinai with the Nile Valley in 6th October celebrations, he noted.

Mamish underlined that the opening of the new Suez Canal contributed to increasing the revenues by 30 percent, showing its great economic feasibility. He added that the new canal reduced the sailing time by 50 percent as a ship can cross the naval corridor within 11 instead of 22 hours.

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