Investments in Suez Canal worth $110.48B
Suez Canal - YOUM7 (Archive)

CAIRO: In cooperation with several bodies including the Suez Canal Authority, the Ministry of Planning will develop the Canal during the new fiscal year of 2014/2015 in the framework of economical and social plans to establish investments worth 790 million EGP, according to Mubasher.

Investments are distributed on several projects, including waterway projects, developing authority facilities, offshore entities, developing the canal, strategic projects, among many others.

Prime Minister Ibrahim Mahlab announced in May that developing Suez Canal Axis will top the ministerial committee’s concern in the upcoming period.

The Ministry of Planning issued last Thursday its plan in the new fiscal year 2014/2015 for economical and social development.

The statement revealed the economical and social plans to achieve developmental goals for the country and forming a democratic society with freedom and social justice.

Chairman of Suez Canal Authority Mohab Mamish told Youm7 Wednesday that revenues during the last fiscal year 2013/2014 hit a record $5.3 billion, adding that it is the highest record since the canal’s inauguration in 1896.

The revenues reached $468.8 million in May 2014 compared to $438.1 million in May 2013 and reached $442.4 million in April 2014, compared to $406.1 million in April 2013.

Al-Ahram news gate reported at the beginning of June that Suez Canal Industrial Investors Syndicate plans to establish five investment projects worth $1 billion to develop the Suez Canal axis.

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