Suez Canal's Revenues to Hit $1 bn: Mamish

The Suez Canal Authority (SCA) targets to boost the canal's yield to $1 billion, as per the SCA's Chairperson Mohab Mamish.

Speaking at a seminar on the investments in the Suez Canal Economic Zone (SCZone), Mamish said that almost 20,000 vessels cross the canal annually, carrying more than one billion tons of cargoes.

He added that the revenues of the canal was worth about $600 millions in its first year.

According to reports, the Suez Canal's yield, from July 2018 to March 2019, was approximately EGB 76.14 billions.

Meanwhile, Mamish is studying the possibility of introducing new industries in the SCZone, in order to attract more investments.

The current analysis reviews 13 industries including: petrochemicals, food, medicine and petroleum refining.