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Suez Canal revenue hits new daily record on 51st anniversary of nationalization
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10:03, July 29, 2007

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The Suez Canal collected a revenue of 97 million Egyptian pounds (about 17.2 million U.S. dollars) on Thursday, the 51st anniversary of the Canal's nationalization, hitting a new daily record in its history, an official announced on Saturday.

Egypt's official MENA news agency quoted a Suez Canal spokesman as saying that about 80 ships crossed the canal on the anniversary, adding the last record was hit on April 24 with revenues hitting 15.9 million U.S. dollars.

The Suez Canal Authority said on Thursday that the revenue of the canal in the 2006-2007 fiscal year, ending on June 30, recorded about 4.17 billion U.S. dollars, a 17 percent year-on- year increase.

Being put into operation in 1869, the Suez Canal is one of the main sources of Egypt's revenue along with tourism, remittances from expatriate workers and oil exports.

Egypt announced the nationalization of the Suez Canal on July 26, 1956, which sparked a war with Britain, France and Israel.

Source: Xinhua



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