Suez Canal Authority is a state-owned authority that 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. After the UN intervened, the three invading countries were forced to withdraw.
Suez Canal Authority was founded on July 26, 1956
SCA is an independent authority having a legal personality. SCA was established by the nationalization act signed on 26 July 1956 by the Egyptian president Gamal Abdel Nasser. The act at the same time nationalized the Suez Canal Company and transferred all its assets and employees to the SCA established by this act.
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Suez Canal Authority Information
|Predecessor||Suez Canal Company|
|Formation||July 26, 1956|
|Purpose||Managing the Suez Canal|
|Admiral Osama Mounier Mohamed Rabie|
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Source – Wikipedia.