Suez Canal Company
Quick Summary
The Suez Canal Company was established in 1856 to construct and operate the Suez Canal, a vital waterway connecting the Mediterranean Sea and the Red Sea in Egypt. This canal significantly shortened maritime routes between Europe and Asia. Construction began in 1859 and was completed in 1869.
Initially, the company was largely owned by French and Egyptian interests. However, financial difficulties led Egypt to sell its shares to the British government in 1875. In 1956, Egyptian President Gamal Abdel Nasser nationalized the Suez Canal Company, leading to the Suez Crisis. Since then, the canal has been under the complete control of Egypt's Suez Canal Authority.12
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- nationalization
The Suez Canal, owned and operated for 87 years by the French and the British, was nationalized several times during its history—in 1875 and 1882 by Britain and in 1956 by Egypt, the last of which resulted in an invasion of the canal zone by Israel, France, and…
Read MoreThe Suez Canal, owned and operated for 87 years by the French and the British, was nationalized several times during its history—in 1875 and 1882 by Britain and in 1956 by Egypt, the last of which resulted in an invasion of the canal zone by Israel, France, and…
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EgyptThe Nasser regimeDefiantly, Nasser nationalized the Suez Canal Company in July 1956 in order to use its proceeds to finance the dam. Britain and France, major shareholders in the company, were angered by Nasser’s actions (France was equally infuriated by Egyptian aid to the Algerians who were revolting against French rule)…
Read MoreDefiantly, Nasser nationalized the Suez Canal Company in July 1956 in order to use its proceeds to finance the dam. Britain and France, major shareholders in the company, were angered by Nasser’s actions (France was equally infuriated by Egyptian aid to the Algerians who were revolting against French rule)…
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Suez CanalConstruction…second act conferred on the Suez Canal Company (Compagnie Universelle du Canal Maritime de Suez) the right to operate a maritime canal for 99 years after completion of the work. Construction began in 1859 and took 10 years instead of the 6 that had been envisaged; climatic difficulties, a cholera…
Read More…second act conferred on the Suez Canal Company (Compagnie Universelle du Canal Maritime de Suez) the right to operate a maritime canal for 99 years after completion of the work. Construction began in 1859 and took 10 years instead of the 6 that had been envisaged; climatic difficulties, a cholera…
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canals and inland waterwaysThe Suez Canal…granted in 1856 to the Suez Canal Company, an international consortium. The concession was to last for 99 years from the canal’s opening to navigation, after which it was to revert to the Egyptian government; the canal was to be an international waterway, open at all times to all ships…
Read More…granted in 1856 to the Suez Canal Company, an international consortium. The concession was to last for 99 years from the canal’s opening to navigation, after which it was to revert to the Egyptian government; the canal was to be an international waterway, open at all times to all ships…
Read More- canals and inland waterwaysAdministration
…constructed and administered by the Suez Canal Company, has frequently been a matter for dispute, peaceful and otherwise. Only in 1904, under an Anglo-French agreement, was the Constantinople Convention of 1888, establishing the Suez Canal as an international waterway open to all in war and peace, finally implemented. In 1956…
Read More…constructed and administered by the Suez Canal Company, has frequently been a matter for dispute, peaceful and otherwise. Only in 1904, under an Anglo-French agreement, was the Constantinople Convention of 1888, establishing the Suez Canal as an international waterway open to all in war and peace, finally implemented. In 1956…
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