Egypt’s Suez Canal sees revenues rising by $700 million yearly, CNBC Arabia stories

An aerial view of the Gulf of Suez and the Suez Canal are pictured by means of the window of an airplane on a flight between Cairo and Doha, Egypt, November 27, 2021. REUTERS/Amr Abdallah Dalsh

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Sept 18 (Reuters) – The Suez Canal expects its revenues to extend by $700 million yearly after transit charges hike by 15% in 2023, CNBC Arabia TV channel quoted the chairman of the authority managing the canal, Osama Rabie, as saying on Sunday.

Rabie additionally stated the authority goals to checklist shares of 10 to fifteen% of its subsidiary Canal Mooring firm on the native inventory market by the top of the present yr.

(This story corrects headline to say revenues rise by $700 mln, to not $700 mln)

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Reporting by Omar Fahmy and Moataz Mohamed; Modifying by William Maclean

Our Requirements: The Thomson Reuters Belief Ideas.

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