22 February 2013

Egypt: Mamesh - Suez Canal Capable of Competing With Any Similar Project to Be Established By Neighboring Countries

Chairman of the Suez Canal Authority Mohab Mamesh said on Thursday 21/02/2013 that the people of Canal cities did not commit any hostile act against the Canal's waterway or facilities.

During the signing of a contract between Alexandria Port Authority and Timsah Shipbuilding Company - a subsidiary of the Suez Canal Authority - to build two tugboats for the authority, Mamesh stressed that the Canal's revenue rate was not affected by the current developments.

Mamesh pointed out that the Suez Canal Authority is working for the development and modernization of equipment in its subsidiaries, while adding new activities for those companies and enhancing skills and efficiency of their employees.

He made clear that the Suez Canal is the backbone of the national economy and will not be affected by any project for establishment of similar waterways by the neighboring countries.

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