Ferdinand Marie, Vicomte de Lesseps, had obtained…

Ferdinand Marie, Vicomte de Lesseps, had obtained a concession from Said Pasha, the viceroy of Egypt, in 1854 and 1856  to create a company to construct a maritime canal open to ships of all nations, according to plans created by Austrian engineer Alois Negrelli.

The company is to operate the canal by leasing the relevant land, for ninety-nine years from its opening, for navigation.

De Lesseps had used his friendly relationship with Said, which he had developed while he was a French diplomat during the 1830s.

The Suez Canal Company (Compagnie Universelle du Canal Maritime de Suez) comes into being on December 15, 1858.