Egypt: Mohab Memish - Suez Canal Revenues Witness Significant Increase This Year

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A cargo ship passes through the Suez Canal.

Prime Minister Ibrahim Mahlab met on Thursday 20/03/2014 with Head of the Suez Canal Authority and Chairman of Suez Canal region development project Mohab Memish.

The Prime Minister inquired about measures taken to secure the water way and checked on the revenues achieved by the authority in local and hard currencies.

Memish said that the revenues of the Suez Canal have increased significantly since July 2013 until February 2014, reflecting the trust of the navigation agencies and companies in the security measures. He noted that Egypt's revenues of the Suez Canal are expected to reach EGP 37 billion by end of this financial year in next June.

Memish reviewed preparations for the Suez Canal development project, which, he said, were going on smoothly.

Mahlab lauded the strenuous efforts of the Suez Canal Authority and its staffers and greeted the Armed Forces for securing the navigation the stream efficiently.

Meantime, fifty-one vessels transited the Suez Canal on Thursday, carrying a total cargo of 2.983 million tons.

The south-bound convoy included 23 ships, carrying 1.605 million tons, while the north-bound convoy included 28 vessels with a cargo of 1.378 million tons.

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