The new services will be provided at Port Said and Suez in the northern and southern areas of the canal respectively, state news agency MENA reported on Friday, citing Abdel-Aziz as saying to the press.

Services will be provided by three companies, mostly European, that won four annual licenses, Abdel-Aziz said.

The companies were not named in the report.

Annual licenses will be renewed based on the performance of the companies, he added.

In addition, up to new 25 services will be available for ships transiting the Sokhna Port, located south of the Suez Canal entry, including medical evacuation, marine supply, and minor emergency repair, as well as the provision of food, water and oil, added Abdel-Aziz.

Abdel-Aziz made the remarks on the sidelines of the centenary celebration of the Alexandria Chamber of Commerce.

The Suez Canal is one of main sources of foreign currency for Egypt, bringing in a record of $7 billion in revenues in FY2021/22, up from $5.8 billion in the previous FY, according to figures by the Suez Canal Authority (SCA).

Around 12 percent of global trade passes through the key 193-kilometre-long international waterway – the fastest artery between Europe and Asia.

Last month, the SCA announced an increase in transit fees by 10-15 percent starting January 2023 to deal with the ramifications of the current global inflation rates.