Egypt was ruled by britain and france at the time, and there were several rebellions against colonial rule. This, coupled with the limitations of construction technology at the time, caused the total costs of building the suez canal to balloon to $100 million, more than double the original estimate.
How Much Did the Suez Canal Cost to Build?
The Suez Canal is one of the most important waterways in the world, connecting the Mediterranean Sea to the Red Sea and allowing vessels to travel between Europe and Asia without having to sail around Africa. Built by the French engineer Ferdinand de Lesseps in 1869, the Suez Canal is an impressive feat of engineering and a major part of Egypt’s economy. But just how much did the Suez Canal cost to build?
The construction of the Suez Canal began in 1859 and was completed in 1869. The total cost of building the canal has been estimated to be anywhere between $100 million and $1 billion. This includes the cost of the necessary land purchases and construction materials, as well as the salaries of the workers who built the canal.
In addition to the cost of the actual construction, there were also significant political costs associated with the project. France and Britain were heavily involved in the financing and construction of the canal, and a number of agreements were made between the two countries regarding the use and control of the canal. This led to a number of disputes and even a war between France and Britain in 1882.
The Suez Canal has been a major source of revenue for Egypt since its completion.