President Abdel Fattah El-Sisi met on Monday 2/1/2023 with Prime Minister, Dr. Mostafa Madbouly, and Chairman of the Suez Canal Authority (SCA), Admiral Osama Rabie.

The Spokesman for the Presidency said the meeting followed-up on the activities of the Suez Canal Authority.

President El-Sisi gave directives to proceed with the implementation of the development strategy of the Suez Canal, in order to consolidate its unparalleled position as a waterway on which the world trade movement depends, and as one of the supportive factors of the national economy.

Admiral Rabie briefed the President on the indicators of global navigation traffic in the Suez Canal during the past three years.

He reported that the number of ships transiting in 2020 reached about 18,830 ships, increasing in 2021 to 20,694 ships, and totaling around 23,583 ships in 2022. This resulted in record return for the canal by the end of last year with about $8 billion, an increase of 25% over 2021. This is due to the digging of the new Suez Canal and ongoing efforts to continue the stages of the canal’s development strategy, which reflected on an increase in its total capacity.

The Chairman of the Suez Canal Authority offered an overview of the authority’s efforts to upgrade its naval fleet and its multi-functional tugboats, some of which are manufactured in partnership with foreign and local private sector expertise in the arsenals of Port Said, the south of Red Sea and Alexandria.

He also reviewed efforts to develop the southern sector of the canal’s navigational course, with a length of 40 km.

This includes the duplication of the canal and the widening and deepening of its navigational course, in order to improve navigation and international trade passing through the canal.

Source: State Information Service Egypt