Suez Canal Authority Chairman Mohab Mamish said a memorandum of understanding will be signed on Thursday between Egypt and Spain over establishing fisheries in the Suez Canal development project.
The project will contribute to food security for citizens at suitable prices, Mamish said in remarks on the sidelines of President Abdel Fattah al-Sisi’s visit to Madrid.
The canal’s revenues are projected to increase up to 250 percent after the opening of the new canal in August, he added.
Edited translation from Al-Masry Al-Youm
