CAIRO – 28 September 2020: The Suez Canal Authority’s (SCA) investments in the FY 2020/2021 plan are estimated at LE 16.9 billion (US $ 1.07 billion), announced Egyptian Minister of Planning and Economic Development Hala El-Said in a statement on Monday. “The investments will be used to implement the authority’s development and expansion projects, despite the repercussions of the coronavirus crisis,” she said in the statement. The strategic projects on the Suez Canal will also include constructing a sea pier east of the Al-Fardan Station, alongside completing the berths for the new canal ferryboats. Further financing will be directed to developing a fleet of the locomotives used to pull ships crossing the Suez Canal in terms of capacity and tensile strength. The authority's equipment will also be developed through modernization and increased capacity.

Source: Egypt Today September 28, 2020 21:00 UTC