Suez Canal revenues hit record highs in fiscal year 2018-2019, which began in July last year and ended in June this year, amounting to 104.2 billion Egyptian pounds, equivalent to $ 6.3 billion. Revenues increased 5.4% over the previous fiscal year.
According to the President of the Economic Zone and the Suez Canal Authority, Mohab Mamish, the canal is preparing for the passage of the world’s largest container ship, Megamax-24, capable of carrying 23,000 containers.
Mamish also says about $ 25 billion has been invested in projects in the canal area, with resources expected to reach $ 55 billion over the next 15 years to fund businesses that will secure millions of jobs.
+ The waterway connecting the Mediterranean Sea to the Red Sea is an important source of foreign exchange for Egypt. Four years ago, the country inaugurated a new stage of the canal, which consisted of the construction of a new road and the expansion of the existing road.
With information from the Brazil-Arab News Agency (ANBA)