In a phone interview with the Sada El Balad channel, Rabie noted this year's revenues increased from 10% to 25% compared to 2021, describing the new figures as good and unprecedented in the canal's history.

Since the opening of the new canal seven years ago, 130,000 vessels, carrying eight billion tons, crossed the international waterway, making revenues worth $40 billion, according to Rabie.

Today, about 98 vessels crossed the canal, figures, which could not be reached if the new canal does not exist, the SCA chief said, adding the new canal reduce the time of the crossing from 22 hours to 11 hours only as well as increasing the number of the crossing ships from 17,000 to 25,000 every year.

During the UN climate conference, COP27, the Suez Canal will be announced as an eco-friendly waterway, as a number of measures were taken in this matter, including the use of solar and wind energy, he mentioned.

The canal is set to give additional incentives to ships, which are running on liquefied gas and hydrogen.

He also added that the Suez Canal will be turned into a massive economic axis that would provide ships with logistic services, pointing to the opening of a refueling line for ships soon and contracting with companies to deal with ship waste.

Regarding the development of the southern sector of the Suez Canal, he said that the project to develop the southern sector (40 kilometers) will be completed soon.

Rabie noted that the authority cooperates with the private sector to pump more investments in the canal, saying a new shipyard will be built in cooperation with the private sector and the Transport Ministry.