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Business / Middle East Business

Egypt's Suez Canal revenue rises to $462.1m in August

Published: 13 Oct 2015 - 11:29 am | Last Updated: 01 Nov 2021 - 08:50 pm
Peninsula

CAIRO: Egypt's revenue from the Suez Canal rose to $462.1 million in August, from $437.7 million in July, the Suez Canal Authority's website stated on Tuesday.
Revenues in June were $431.6 million, it said.
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 Abdel Fattah al-Sisi launched an $8-billion expansion of the canal that aims to double daily traffic by 2023 and increase annual revenues to more than $13 billion by 2023, from just over $5 billion in 2014.

Reuters