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    2024 IMO Bravery Awards honor tanker and tugboat crews for heroic acts

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    Panama

    BMA: Sanctions imposed against Russia

    Work,Safety,Concept.,Wooden,Cube,Blocks,With,Icon,Of,Safety

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    Book Review: Building leaders the MMMA way

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SAFETY4SEA

Egypt plans to increase Suez Canal’s revenues by $1bn

by The Editorial Team
April 23, 2019
in Shipping
suez canal

Above image is used for illustration purposes only

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The Suez Canal Authority (SCA) aims to increase the Suez Canal’s revenues by as much as $1bn, Mohab Mamish, the chairperson of SCA informed. During the first year of its operation the canal achieved revenues worth a total of $600m.

Mohab Mamish stated during a seminar on investment in the Suez Canal Economic Zone (SCZone), that in addition to the $600m revenues, approximately 20,000 vessels crossed the canal per year.

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These ships carried over 1bn tonnes of cargoes, Mr. Mamish added.

RelatedNews

Oil-drilling ship capsize in Gulf of Suez claims four lives

Egypt to renew national fleet with kamsarmax newbuildings

What is more, local media reported that the Suez Canal’s revenues were EGP 76.14bn from July 2018 to March 2019.

Mohab Mamish is now analyzing about 13 industries to decide which will be the best to be implemented in the SCZone, so as to attract more investments. These industries include the petroleum refining, petrochemicals, food, and medicine.

Egypt plans to increase Suez Canal’s revenues by $1bnEgypt plans to increase Suez Canal’s revenues by $1bn
Egypt plans to increase Suez Canal’s revenues by $1bnEgypt plans to increase Suez Canal’s revenues by $1bn
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