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The Suez Company or Suez Canal Company, full initial name Compagnie universelle du canal maritime de Suez (Universal Company of the Maritime Canal of Suez), [1] sometimes colloquially referred to in French as Le Suez ("The Suez"), [2] [3] was a company formed by Ferdinand de Lesseps in 1858 to operate the Egyptian granted concession of the Suez Canal, which the company built between 1859 and 1869.
The expansion intended to nearly double the capacity of the Suez Canal, from 49 to 97 ships per day. [9] At a cost of LE 59.4 billion (US$9 billion), this project was funded with interest-bearing investment certificates issued exclusively to Egyptian entities and individuals. The Suez Canal Authority officially opened the new side channel in 2016.
House flag of Suez Canal Authority Suez Canal Authority ( SCA ) is an Egyptian state-owned authority which owns, operates and maintains the Suez Canal . It was set up by the Egyptian government to replace the Suez Canal Company in the 1950s which resulted in the Suez Crisis .
Flag Day 2024 is Friday, June 14. The date commemorates the adoption of the American flag's design, as well as the symbolism and history behind it.
This figure rises to 1,400,000 by including Western Sinai, the parts of the Port Said, Ismailia and Suez Governorates lying east of the Suez Canal. Port Said alone has a population of roughly 500,000 people (January 2013). Portions of the populations of Ismailia and Suez live in west Sinai, while the rest live on the western side of the Suez Canal.
During the 74 years of the United Kingdom's military presence in Egypt, from 1882 to 1956, the British government was in effective control of the Canal. In 1956, the Egyptian government nationalised the Suez Canal Company. Future wars between Egypt and Israel would see the canal blocked and unusable for extended periods of time.
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In 1956, Israeli, British and French forces invaded the Suez Canal, which became known as the Suez Crisis. Following Israel's invasion and occupation of the Sinai Peninsula in the Six-Day War of 1967, the Canal was closed, and did not reopen until 1975. On March 23, 2021, a container ship called the Ever Given ran aground in the canal and ...