Egypt Independent

Suez Canal revenues up to USD 4.3 billion in 2017: SCZone Chairman



The chairman of Suez Canal Authority (SCA) and SCZone — the Suez Canal Economic Zone, Mohab Mamish, announced on Wednesday that the SCA’s revenues raised by 3.4 per cent within the period from January-October 2017, increasing to $US4.3 billion up from $US4.2 billion in 2016.

He added that the number of ships crossing the canal waterway increased by 2.9 per cent, to 14 462 ships from 14 053 ships in 2016, while the containers crossing the canal increased by 5.6 per cent, to 859 million US dollars up from $US813 million in 2016.

Mamish released the revenues’ figures during a meeting with a senior-level delegation from House of Representatives’ Economic Affairs Committee, chaired by the parliamentarian Amro Essa Ghalab. He praised the economic committee’s role in following-up on the country’s steps towards economic reformation and development projects.

The former Commander in Chief of the Egyptian Navy within the period of 2007 to 2012 signed several joint cooperation agreement and contracts, notably the partnership with the Emirati giant company DP World to develop a plot of 56km in south of SCZone.

Mamish added that President Abdel-Fattah al-Sisi will open 20 factories in Ain Sokhna in February 2018, in addition to the announcement of the signing several contracts for large projects during the World Youth Forum in Sharm El-Sheikh between 4 and 11 November, 2017.

Mamish pointed out that he agreed with Germany to build Egyptian-German factories in arsenals of the Suez Canal Authority. He also studied memorandum of understandings (MoUs) with Vietnam on building factories in al Adabiya Port, Suez.

Edited Translation from Al-Masry Al-Youm