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Mameesh: 6 milliard dollars Canal revenues in 2018 with an increase of 500million

 

 Vice admiral/ Mohab mameesh, head of Suez Canal authority and of Canal Economic Zone said that Canal revenues expected for current year will reach 6 millard dollars compared with 5, 5 milliards dollars last year.

  Mameesh refered this revenues increase to New Suez Canal which decreased vessels’ traffic period from 22 hours to 11 hours; this reflected on directing vessels’ traffic which have chosen passing by the Canal; where it reduces the distance from Asia to Europe and America, especially after the increase in oil prices, in addition to the great exerted effort by the authority to attract vessels.  

  He also added that there is a trend now to grant giant vessels that cross the Canal and enter Egyptian ports, additional facilities so that they benefit from the Suez Canal unique privilege where 12% of vessels traffic pass by and 20% of international container vessels, noting that planning between “Economic Zone” and Suez Canal goes in poarallel.

 He also announced that Port Said and Ismailia tunnels will be inaugurated next month saying” this is a great achievement to be added to the chain of giant projects that president Sisi ordered to be implemented and will have a great feedback on developmental projects at East Port Said, and after accomplishment of Ismailia and Port Said tunnels we will be directed to dredging Suez tunnels.  

 And concerning latest decrees of reducing dues for transit container vessels that enter the Economic Zone he added: “competitive ports apply reductions to attract vessels, It was necessary to take firm decisions in this respect and it was necessary to take a courageous decision so that we will be capable of competing and does not follow a routin way in marketing


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