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The total revenue of Egypt's Suez Canal reached 56 billion U.S. dollars since its reopening on June 5, 1975, Chairman of the Suez Canal Authority (SCA) Ahmed Ali Fadel said on Thursday.
Fadel made the announcement in a press release to mark the anniversary of reopening the canal after the 1973 Middle East War, the Egyptian official MENA news agency reported.
He noted that a number of projects will be carried out to deepen and develop the waterway to secure the navigation through satellite and radar-guided cameras, with a new dredger being built to help deepen the waterway.
On Wednesday, Fadel announced that the Suez Canal revenues rose to 487 million dollars in May, setting a new monthly record.
As of April 1, the SCA raised the tolls for ships transiting the international waterway.
The Suez Canal, linking the Red Sea and the Mediterranean, is one of the world's busiest waterways for international trade and Egypt's major sources of revenue along with tourism, remittances from expatriate workers and oil exports.
In the fiscal year of 2006-2007 which ended on June 30, 2007, the Canal's revenues recorded about 4.17 billion dollars, a 17 percent year-on-year increase. |
