Egypt’s Suez Canal revenue up to USD462.1m in August

14 Oct 2015

(MENAFN) Egypt’s revenue from the Suez Canal surged to USD462.1 million in August, from USD437.7 million registered in July, the Suez Canal Authority’s website stated.

Revenues in June were USD431.6 million. The canal is the fastest shipping route between Europe and Asia and is one of the country’s main sources of foreign currency.

On August 6, President al-Sisi launched an USD8-billion expansion of the canal that aims to double daily traffic and increase annual revenues to more than USD13 billion by 2023, from just over USD5 billion in 2014.

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