Suez Canal Authority targets $9bln revenues in 2023


The Suez Canal Authority (SCA) is targeting to increase its revenues to $9 billion in 2023, SCA’s Chairman Osama Rabie told Asharq Business on March 7th.

Target revenues signal an annual growth of 12.5% as compared to the robust revenues of $8 billion reported in 2022.

Rabie noted that SCA’s revenues hit $1.5 billion in January and February of the current year, marking a 41.6% year-on-year increase from $1.1 billion.

The Suez Canal is one of Egypt's main sources of national income and foreign currency reserves.