Cairo – Mubasher: Revenues from Egypt’s Suez Canal grew to $5.8 billion during fiscal year 2018/2019, supported by the opening of a new canal, head of the Suez Canal Authority (SCA) Osama Rabie said.

During FY18/19, the number of ships crossing the Suez Canal reached about 18,800 carrying 1.2 billion tonnes, Rabie added in a statement on Wednesday.

The time of transit through the canal fell to 11 hours from 22 hours before opening the new canal, he pointed out.