Lieut. Gen. Osama Rabea, Chairman of the Suez Canal Authority, revealed that the state's share of the Authority's revenues cannot be affected.
And indicated that the capital of the new Suez Canal Authority Fund will reach 100 billion pounds.
He also stressed that the Canal Investment Fund aims to achieve added value for the Authority.
Lieut. Gen. Rabea stressed the Egyptian sovereignty over the Suez Canal, and pointed out that the authority is working on the optimal utilization of the assets of it in the benefit of the national economy.
He denied rumors of selling the assets of the Suez Canal.
He confirmed that no foreign investor will be allowed to take over assets of the canal.
The head of the Suez Canal Authority added, during a press conference, today, Thursday, that sovereignty over the canal will remain first and foremost for Egypt and the Egyptians.
He continued to say that there are Arab and foreign investments, but sovereignty and the first and last word remain for the Egyptian state and the Egyptians.
He explained that the Suez Canal was dug by the Egyptians 153 years ago, and the excavation work continued for ten years until it opened in 1867.
He pointed out that a quarter of the Egyptian people participated in its digging, and 120 of them were martyred.
Lieut. Gen. Rabea added that in 2015, when the new Suez Canal opened, new projects were inaugurated, such as the new Ismailia, 5 floating bridges, 5 tunnels, and the development of the maritime fleet.
He said that the decision to nationalize the Suez Canal, which dates back to the era of President Gamal Abdel Nasser, was historic, and deserves the many wars that Egypt fought for this decision.
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