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Suez Canal. n. 1. (Placename) a sea-level canal in NE Egypt, crossing the Isthmus of Suez and linking the Mediterranean with the Red Sea: built (1854-69) by de Lesseps with French and Egyptian capital; nationalized in 1956 by the Egyptians.
The Suez Canal opened in 1869 after ten years of work financed by the French and Egyptian governments. It was operated by the Egyptian-chartered International Company of the Suez Maritime Canal. The area surrounding the canal remained sovereign Egyptian territory and the only land bridge between Africa and Asia. It was also the shortest ocean link between the Mediterranean and the Indian Ocean; a vital route for trading nations, helping European powers exercise control over their colonies.