Egypt's Planning Ministry: LE 16.9 bn Suez Canal investments in 2020-2021 plan

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Sun, 27 Sep 2020 - 10:33 GMT

Minister of Planning and Economic Development Dr. Hala El-Said- press photo

Minister of Planning and Economic Development Dr. Hala El-Said- press photo

CAIRO, Sept 27 (MENA) - Dr. Hala el Said Minister of Planning and Economic Development said Sunday Suez Canal investments for 2020-2021 plan is estimated at EGP 16.9 billion to carry out upgrading and expansion projected ventures despite the fallout of the current coronavirus pandemic.

In a Ministry of Planning and Economic Development report outlining Suez Canal future investment plan for 2020-2021, the minister highlighted the importance of the canal; being a vital world trade route encompassing 25% of world container trade movement, as 8.3% out of the total volume of world trade transits the canal.

The minister further referred to the waterway's role as main source for generating outflow of foreign currency into the country. 

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