President Sisi directs the continuation of work to complete Suez Canal development projects
President Abdel Fattah El-Sisi directed the continuation of work on completing canal development projects, with the aim of providing the best navigational services and enhancing the role of the canal as a fundamental pillar of the global trade movement. He directed the continuation of modernizing the Egyptian fishing fleet in accordance with the latest international regulations and standards to enhance the role of this vital sector in serving the national economy.
This came during the meeting held today by President Abdel Fattah El-Sisi with Lieutenant General Osama Rabie, Chairman of the Channel Authority. Suez.
The official spokesman for the Presidency of the Republic, Ambassador Mohamed El-Shenawy, explained that the meeting dealt with the impact of regional conditions on the navigational traffic in the Suez Canal during the current year, where President Sisi was briefed on The revenues achieved by the canal in 2024, which witnessed a decrease of more than 60% compared to 2023, meaning that Egypt lost approximately $7 billion in 2017. 2024, following the current events in the Red Sea and Bab al-Mandab region, which negatively affected the navigation movement in the canal and the sustainability of global trade.
Ambassador Mohamed El-Shenawy added that the meeting also touched on Ongoing projects to modernize the navigational channel of the Suez Canal, to enhance its value and role in supply chains and global trade, including the completion of the entire southern sector project, in addition to expanding the area of the navigational channel from one kilometer. 132 to kilometer 162, to allow the passage of giant ships, and the completion of the “full duplication of the canal’s navigational course” project. From kilometer 122 to kilometer 132, which contributes to increasing the volume of freight and accelerating ship traffic in both directions.
President Sisi was also briefed during the meeting on the measures taken by the Suez Canal Authority to confront The effects of the challenges in the Red Sea and Bab al-Mandab, as well as the efforts made towards modernizing the fishing fleet in accordance with international specifications and standards, relying on the latest advanced technological systems.
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