A memorandum of understanding will be signed on Thursday between Egypt and Spain to establish fish farms in the New Suez Canal Axis, said Chairman of the Suez Canal Authority Mohab Mamish.

In press statements on the sidelines of President Abdel Fattah al Sisi's visit to Spain, Mamish said the project will contribute to providing food security for citizens at affordable prices.

The revenues of Suez Canal will be increased by 250% after the inauguration of the new Suez Canal in August, Mamish said.

Spanish businessmen are interested in establishing projects in several fields, Mamish said.