President Abdel Fattah El-Sisi met today with Chairman and Managing Director of the Suez Canal Authority (SCA) Admiral Osama Mounier Mohamed Rabie. The Spokesman for the Egyptian Presidency stated that the meeting discussed the efforts made by the Suez Canal Authority. In this regard, Admiral Osama Rabie confirmed that the new Suez Canal, which was opened in 2015, doubled the annual revenues of the canal which exceed $7 billion. These efforts are part of Bardawil Sinai Development Initiative to which the Suez Canal Authority contributes, in cooperation with DEME Group. The Chairman of the Suez Canal Authority briefed the President on the navigation indicators in the canal from the beginning of this year until now.

Source: The North Africa Journal November 25, 2022 04:52 UTC