Red Sea Ports attains revenues of 1.2bn Egyptian pounds in FY2015-16

Egyptian Red Sea Ports Authority (RSPA) attained revenues estimated at 1.2 billion Egyptian pounds (US$135.1 million) during financial year 2015-16 , Chairman Hesham Abu Senna stated Thursday.

He added that authority’s net profit reached 572 million pounds, marking an increase estimated at 177 million pounds in comparison to authority’s target for fiscal year 2015-16.

The chairman added that RSPA’s investment plan for fiscal year 2016-17 depends on boosting quality of platforms, infrastructure, and services provided for passengers.

The plan also focuses on attracting new investments to authority’s future projects to finish upgrading ports.

Chairman Abu Senna noted that RSPA plans to increase ports’ capacities to accommodate 5 million passengers annually by 2030 since the current capacities are ranging between 2-2.5 million passengers per year.