Suez Canal head to stay in office for another year
Suez Canal Authority Head Mohab Mamish - YOUM7/Sami Waheeb
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CAIRO: President Abdel Fatah al-Sisi issued a presidential decree to extend the tenure of Lt. Gen. Mohab Mamish as chairman of the Suez Canal Authority for another year starting from January 1, 2015, according to a presidential statement Wednesday.

Mamish was the commander of Egypt’s Navy from 2007 before he was appointed to his current position in 2012 during the tenure of former President Mohamed Morsi.

He was a member of the Supreme Council of the Armed Forces which took the power during Egypt’s transitional period following the January 25 Revolution 2011 before it had relinquished power upon the start of Morsi’s tenure on 30 June 2012.

He is also the executive head of the ongoing Suez Canal Corridor Development Project, part of the comprehensive Suez Canal Axis Project that was launched on August 15, 2014. It aims at boosting Egypt’s economy and increasing investments through establishing a logistics hub and trade zone in the strategic area.

During the project’s inauguration ceremony in August, Sisi called on the military engineering authority, tasked with the project, to conclude it in one year instead of the previously scheduled 3–year timeline.

Mamish assured earlier that the project, with a cost estimated at 60 b EGP ($8.2b), will be achieved on time and before the deadline in August 2015.

The Suez Canal Authority is the body which controls Egypt’s strategic waterway.

In August, armed assailants opened fire on a passing Chinese-owned container ship from land.

In December, Mamish has assured the canal is tightly secured and announced that the Suez Canal Authority had made its highest revenues in six months.

Additional reporting by Yasmine Samra and Amira el-Fekki

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