ISMAILIA: Egypt s revenue from the Suez Canal is expected to reach a record LE 21.7 billion ($3.8 billion) in 2006, up around 10 percent from last year, a Suez Canal Authority official said on Monday. Revenue was $3.457 billion in 2005, said the official, who asked not to be named. We also expect that the cargo crossing the Suez Canal by the end of this year will reach around 680 million tonnes, compared to 671.782 million tonnes last year, he told Reuters. The official said the rise in revenue and cargo was mainly due to global trade activity with India and China. The Suez Canal is an important source of foreign currency for Egypt, along with remittances from Egyptians living abroad, tourism, and oil and gas exports. Maritime accidents within the waterway in 2006 did not affect its revenue or payloads, the official said. In September, one oil tanker ran aground while the collision of another caused a limited oil spill.
