Joint projects in the pipeline for Suez Canal

Suez Canal Authority Chairman General Ahmed Ali Fadel said proposals for partnerships between international companies and Suez Canal firms are being discussed.

He added that lowered fees have helped the canal reach profits of $160 million.

"Last year, 14,435 ships transited Suez canal in the two directions against 14,731 vessels in 1996," Fadel said.

"Despite the reduction of the number of ships, yet the total lift tonnage, the key essence of the canal, increased from 355 million tones to 368.7 million tones after the canal's lift capacity rose when its draft reached 58 feet, with the sustainable development projects implemented by the SCA," he added.

He said the SCA is working on maintaining and upgrading the canal, saying, we do have our equipment and experts, who have been undertaking the routine work of dredging and deepening of the canal."