CAIRO – Egyptian President Abdel Fattah El Sisi reviewed navigation movement rates in the Suez Canal during FY 2021-22 at a meeting with Chairman of the Suez Canal Authority (SCA) Osama Rabie on Saturday.
Sisi also was briefed on the projects and the activities of the Suez Canal Authority during the same period, presidential spokesman Bassam Radi said.
The meeting took up the performance of the new Suez Canal and the continuous upgrading of the two channels of the waterway which is vital for the movement of international trade, in addition to its role in supporting the national economy.
Rabie pointed out that the Suez Canal has achieved unprecedented record revenues which hit seven billion dollars in FY 2021-22.
It also registered higher navigation rates and growing net cargo weights, which amounted to 1.32 billion tons, he added.
The chairman of the Suez Canal Authority also explained to the president existing plans for developing the southern sector of the waterway, amid the relentless efforts to improve its sailing, shipping and fishing activities and logistics services.
Talks covered as well measures taken by SCA to strengthen the shipbuilding industry and its strategy for making the canal a hub for yacht tourism.
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