ISMAILIA, August 6, 2018 (MENA) - Chairman of the Suez Canal Authority Mohab Mameesh said on Monday the new Suez Canal revenues over the past three years hit $15.8 billion. At a ceremony marking the third anniversary of the inauguration of the new Suez Canal by President Abdel Fattah El Sisi, Mamish said 52,199 ships transited the international waterway over the past three years, carrying 3.01 billion tonnes. Mameesh said the expansion of the Suez Canal by digging a new channel was an exigency to maintain its position as one of the most important international waterways. In an earlier interview with Al Ahram newspaper marking the occasion, Mameesh said that the new canal managed to half the waiting and crossing period for ships sailing through this artery of global trade to 11 hours, thus reducing the total cost of journeys, he noted. He added that the new waterway formed the basis for a giant national project for developing the Suez Canal zone with an aim to change the maritime and logistic services map in the area and attract investors to the maritime transportation sector. Mameesh said President Abdel Fattah El Sisi had a vision to benefit from the unique geographical position of the Suez Canal. He added that a comprehensive industrial community will be set up in the Suez Canal zone to secure over one million jobs. He also referred to several mammoth projects, including fish farms which are meant to achieve self-sufficiency and export the surplus.