Development of Suez Canal: FILE – In this Feb. 4, 2015 file photo, ferries cross the Suez Canal during a media tour in Ismailia, Egypt. Egypt on Thursday, Aug. 6, 2015 unveiled a major extension of the Suez Canal, a mega-project that has emerged as a cornerstone of President Abdel-Fattah el-Sissi’s efforts to restore national pride and revive the economy after years of unrest. (AP Photo/Hassan Ammar, File)
Sisi Orders Continued Development of Suez Canal
Egypt’s Suez Canal revenues surged 17.1 percent year-on-year in November 2017, Suez Canal Authority chairman Mohab Mamish said declared.
Mamish said the Canal revenues reached 455.8 million dollars in November 2017, compared with 389.9 million dollars during the same period last year.
The number of ships transiting the international waterway during November reached 1,506 up from 1,366 ships in November 2016, he noted.
This was as President Abdel Fattah El Sisi met the Chairman of the Suez Canal Authority (SCA) and Suez Canal Economic Zone (SCzone) Mohab Mamish to discuss the latest developments in the tunnels project under the Suez Canal in the city of Ismailia, directing the continuous development of the canal.
Sisi underlined the importance of the Suez Canal as a pillar of the country’s economy and as a vital facility to the traffic of international trade and maritime navigation between the East and the West.
A spokesman for the presidency Bassam Rady said that Mamish informed the president that the SCA established a department to manage and operate the tunnels and their maintenance.
The meeting shed light on the fish farming project currently being carried out in East Port Said and clearing lake Manzala for fish farming project in accordance with the international standards, where the SCA will take part in the Manzala project, Radi explained.
In addition, the meeting dealt with the latest developments in the economic and industrial zones, Radi added.
Radi pointed out that Mamish gave Sisi a report about the Canal, explaining that the canal recorded historic figures in revenues and cargo transit vessels during the current year.
