Egyptian President Abdel Fattah El Sisi said the Suez Canal Authority (SCA) has made huge revenues despite global recession and the outbreak of Covid-19.
The president’s remarks came on Thursday at the opening ceremony of the Olympic Village and the inauguration of the SCA’s new marine units in Ismailia governorate.
Sisi pointed out that the new Suez Canal projects are funded through the authority’s revenues, noting that the new canal has contributed to increasing the revenues and the number of vessels passing through the waterway.
Such revenues will be used to upgrade the canal, Sisi said, slamming campaigns that were launched to cast doubt on these achievements.
The president urged to clarify facts to counter such fake campaigns.
The revenues of the canal overpasses the cost of digging the new canal, he said, announcing that three yacht ports will be established through such returns without affecting the allocations of the state public budget.
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