Egypt joins Geneva negotiations on Global Plastics Treaty, calls for urgent agreement    Egypt delivers over 30 million health services through public hospitals in H1 2025    Madinet Masr in talks for three land plots in Riyadh as part of Saudi expansion    Egypt's PM tells Palestinian PM that Rafah crossing is working 24/7 for aid    Egypt, Japan discuss economic ties, preparations for TICAD conference    Real Estate Developers urge flexible land pricing, streamlined licensing, and dollar-based transactions    Egypt's Sisi pledges full state support for telecoms, tech investment    EGP inches down vs. USD at Sunday's trading close    EGX launches 1st phone app    Escalation in Gaza, West Bank as Israeli strikes continue amid mounting international criticism    Egypt recovers collection of ancient artefacts from Netherlands    Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    After Putin summit, Trump says peace deal is best way to end Ukraine war    Egypt, Namibia explore closer pharmaceutical cooperation    Jordan condemns Israeli PM remarks on 'Greater Israel'    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt says Suez Canal Project on Track, Tolls Unchanged
Published in Amwal Al Ghad on 05 - 02 - 2015

Transit tolls at Egypt's Suez Canal will stay largely at their current prices this year, the authority said Wednesday, as development of a second parallel waterway proceeds on schedule.
Authority chief Mohab Mameesh said that the canal, which generates a main source of income for the Arab world's most populous country, would open its second lane as expected in August.
The project has been the focus of many hopes and attention in Egypt, where several years of tumult following a 2011 uprising have left the economy battered.
President Abdel-Fattah el-Sissi ordered a faster digging schedule at an inauguration ceremony last year, saying that the urgency of Egypt's situation meant that the project could not wait for an originally planned three-year timetable.
The canal earned a record $5.455 billion in revenue last year — its most lucrative since inauguration in 1869 — compared to $5.105 billion the previous year, the authority said.
Mameesh said the toll structure was unchanged as an incentive for ships at a time when lower oil prices could make the alternate, fuel-intense route around Africa attractive.
"The fuel price has dropped all over the world. Raising the transit toll would make it easier for ships to travel around the Cape of Good Hope," he told reporters in the canal city of Ismailia.
The only change for 2015 would be for shippers of liquefied natural gas, who will see a toll discount they had cut to 25 percent from 35 percent, he said.
The canal is one of the world's busiest water corridors and the strategic link between the Red Sea and the Mediterranean. It employs some 25,000 Egyptians.
The government has said the new canal section will shorten the waiting period from 11 to three hours, allowing two-way traffic of almost 100 ships at a time.
Mameesh said that workers had accomplished 86 percent of the new canal's dry digging and 21 percent of its dredging. Some 35 kilometers (22 miles) had been dug so far and 10 kilometers (six miles) dredged, he said, adding that the cost of the project stood at 8.2 billion.
Source: The Associated Press


Clic here to read the story from its source.