The Suez Canal is a 193 km artificial (man-made) sea-level waterway in Egypt, connecting the Mediterranean Sea to the Red Sea through the Isthmus of Suez and dividing Africa to it’s West and Asia to it’s East. The canal is a route of trade between Europe and Asia without which ships would have to circle the African continent.
Around 20% of the world’s maritime trade goes through the canal.
Construction began in 1859 and ended in 1869, around 1.5 million Egyptian workers dug the canal by hand out of whom 120,000 died in the process. Hence the infamous saying “Blood ran through the Canal before water did”
While the canal was the property of the Egyptian government, European shareholders, mostly British and French, owned the concessionary company which operated it until July 1956, when President Gamal Abdel Nasser nationalized it. An event which led to the tripartie aggression on Suez 1956.
UK, France and Israel attacked the canal to try and control it but due to the military and civilian resistance as well as interference of the International community, the attack failed and Egypt remained in control of the canal ever since.
The canal has been developed to become a two way route in most of its range and a major logistics hub and industrial zone for shipping logistics and many other industries is being built.
The canal generates annualy $7 billion at the moment and plan is to reach $20 billion after the completion of the development projects and introduction of green hydrogen fueling network.
Source: Inside Africa Facebook Page