Gov’t targets $5.5B in 2015-16 investment in Suez Canal
The New Suez Canal - YOUM7

CAIRO: The government has targeted 32 billion EGP ($5.5 billion) in investments inthe Suez Canal Authority in the 2015-2016 fiscal year, the Ministry of Planning  has announced.

The lion’s share of projects are the construction of tunnels under the channel, at an estimated worth of 20 billion EGP.

The revenues for the Suez Canal in 2015-2016 are expected to be $5.5 billion, versus $5.4 in 2014-2015, with 1.024 billion tons of cargo passing through the critical waterway.

The Ismail Sharif government hopes to contribute to increased investment, and to increase the economic real growth rate 5% during the next fiscal year, compared to the 4.2% seen in 2014-2015.

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