Arab Finance: The Suez Canal recorded the highest annual revenues in its history, amounting to $9.4 billion in fiscal year (FY) 2022/2023, Chairman of the Suez Canal Authority (SCA) Osama Rabie revealed on June 21^st.

The number of ships passing the canal also hit record highs, reaching 25,887 vessels with an unprecedented annual net tonnage of 1.5 billion tons, Rabie added.

He also noted that the expansion project of the canal is now 92.4% complete.

Moreover, he said that the canal’s southern section is currently being developed, which will boost the capacity of the canal by six ships passing and enhance the navigation security factor by 28%.

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