Egyptian President Abdel Fattah El-Sisi led the implementation of the Suez Canal development strategy, with all its elements, to strengthen its position as a waterway on which the world trade movement relies and as a supporter of the Egyptian economy.
The head of the Suez Canal Administration, Lieutenant General Osama Rabie, analyzed the performance of global shipping in the Suez Canal over the past three years, as the number of ships in transit in 2020 reached about 18,830 ships, and will increase to 20,694 ships in 2021. ships, and increase over the course of 2022 to 23,583 ships, leading the canal to reach a record revenue of around $8 billion by the end of last year, up 25% from 2021, due to the digging of new Suez Canal and continuous efforts to benefit the canal’s development strategy phases, which is reflected in increasing returns on its capacity.
The head of the Suez Canal Administration also spoke about the efforts of the authorities to develop its navy and multi-purpose locomotives, some of which are produced in partnership with foreign and local private sector experience in the arsenals of Port Said, the southern Red Sea and Alexandria, as well as considering work to develop the southern section of the navigable channel of the canal with a length of 40 km, including the duplication of the canal and the expansion and deepening of its navigable channel, in order to improve navigation. and international trade passing through the channel.
Source: RT