Osama Rabie, head of the Suez Canal Authority denied rumors about the privatization or leasing of the canal's assets.
He added, “Mere rumors spread over the canal, as any successes in Egypt. The authority belongs to the people, and the assets of the channel are owned by the state, and any fateful decisions related to it must be approved by the House of Representatives.
Osama Rabie pointed out, during an interview with Ahmed Moussa on “Sada el-Balad” channel, that 20% of the “Al-Rabat” company affiliated with the Authority was offered on the Stock Exchange as an experiment. It is expected that it will witness a great turnout due to its success.
Rabie continued, "Without the new Suez Canal, the huge ships would not have passed through the old canal," noting that the number of ships that passed through the canal in a year reached 25,800 ships.
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