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Sisi meets with Mameesh ….vice admiral: increase of vessels’ crossing traffic and Canal revenues.

President Abd ElFattah ElSisi has met with vice admiral Mohab Mameesh, head of Suez Canal authority and head of Canal Economic Region general authority to debate several matters related with the C anal and its standard of performance.

  In the same respect, ambassador Alaa Youssef presidency spokesman said that Mameesh has reviewed latest developments of the Region, pointing out to increasing concern of international companies to invest in the region. Recently contracts of 15 projects have been accredited in Sukhna region in the fields of petrochemicals, fertilizers, industry of pharmaceutics and paper besides other industries: industries that participate in developing the region and providing with job opportunities.

 Mameesh also assured that the authority’s policy encourages investment in Canal region by providing incentives and facilitating obstacles in front of investors, while concentrating on increasing job opportunities that serve Egyptian community and meet its needs.  

 He also added that success during the past period was represented in activating an agreement to finance the project of Sonkar terminal for liquid bulk at Sukhna port with direct foreign investment of 500 million dollars. It will participate, after accomplishment of all its stages, in transferring the region to a regional center for vessels’ bunkering and petroleum materials handling in the Middle East and East Africa.

 Presidency spokesman also added that Mameesh has reviewed in front of the president the Economic Region authority efforts to solve problems with investors and accomplishing their projects.

 Ambassador Youssef again assured continuity of work at Suez Canal authority   and that there is an increase in crossing vessels and in Canal revenues ; as a result of improvement in international trade traffic  and increase in economic growth rates in east and south east   Asia, and increase of cargo quantities that are internationally handled. This in addition to continuous Suez Canal developing projects, first of which comes the New Suez Canal and marketing and propagation policies that the authority undergoes that resulted in attracting 3200vessel during 2016and first 5 months of 2017.  

  He also added that the president has praised exerted efforts assuring on the importance of cooperation between all state’s corporations to help in ongoing projects success and rapid accomplishment of required infra-structure to provide for more working and investing opportunities.