SCA Head: Suez Canal owned by Egypt, Egyptian people

Chairman of the Suez Canal Authority (SCA) Osama Rabie asserted on Friday 03/02/2023 that the canal is owned by Egypt and the Egyptian people, noting that all those working in the canal are and will remain Egyptians.

This came after rumors circulated earlier claiming that a foreign company will manage the authority after the signing of a 99-year contract.

In statements to Al Nahar TV station, Rabie urged Egyptians not to heed such rumors.

He pointed out that the revenues of the canal increased by 47 percent in January, comparing to the same period last year.

He added that 23,800 vessels crossed the canal last year and that 2,159 vessels transited the canal in January, with an increase of 21 percent comparing to the same period last year.