Suez Canal revenue rises 12 pct to $510 mln in August

Saturday 27-09-2014 03:25 PM
Suez Canal revenue rises 12 pct to $510 mln in August

Cargo ship in Suez Canal- Aladdin Abdulnabi/Reuters.

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CAIRO, Sept 27 (Reuters) - Revenues from Egypt's Suez Canal reached $510 million in August, a 12 percent increase on the same month the previous year, the state information website said on Saturday.

The waterway, the fastest shipping route between Europe and Asia, is one of Egypt's main sources of foreign currency.

The head of the Suez Canal Authority had said earlier this month that revenues had reached about $508 million, the highest monthly level in history.

A major expansion of the canal is planned. (Reporting by Lin Noueihed; Editing by Pravin Char)

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