Red Sea Ports revenues exceed LE 2B in 2017/18

SUEZ CITY, Egypt - 16 September 2018: Revenues from the Red Sea Ports Authority reached 2.264 billion pounds during 2017-2018, which is 90-percent more than target.

The net profit stood at LE 855 million, which is 50-percent more than target.

Chairman of the Authority Hisham Abu Senna attributed the increase in revenues to a strategy that made optimal use of all potentials at the Red Sea ports, not to mention decisions made to develop resources.

He also touched upon an increase in the number of ships that transited the Suez Canal, as well as the volume of cargo traded at the different Red Sea ports.

An investment plan worth LE 431 million was also implemented, with the private sector managing business and service projects.