section_path: History/Modern era
section_name: Modern era
paragraph_text: Modern era
  
  The era of large dams was initiated with the construction of the Aswan Low Dam in Egypt in 1902, a gravity masonry buttress dam on the Nile River. Following their 1882 invasion and occupation of Egypt, the British began construction in 1898. The project was designed by Sir William Willcocks and involved several eminent engineers of the time, including Sir Benjamin Baker and Sir John Aird, whose firm, John Aird & Co., was the main contractor. Capital and financing were furnished by Ernest Cassel. When initially constructed between 1899 and 1902, nothing of its scale had ever before been attempted; on completion, it was the largest masonry dam in the world.
  
  The Hoover Dam is a massive concrete arch-gravity dam, constructed in the Black Canyon of the Colorado River, on the border between the US states of Arizona and Nevada between 1931 and 1936 during the Great Depression. In 1928, Congress authorized the project to build a dam that would control floods, provide irrigation water and produce hydroelectric power. The winning bid to build the dam was submitted by a consortium called Six Companies, Inc. Such a large concrete structure had never been built before, and some of the techniques were unproven. The torrid summer weather and the lack of facilities near the site also presented difficulties. Nevertheless, Six Companies turned over the dam to the federal government on 1 March 1936, more than two years ahead of schedule.
  
  By 1997, there were an estimated 800,000 dams worldwide, some 40,000 of them over 15 m (49 ft) high. In 2014, scholars from the University of Oxford published a study of the cost of large dams – based on the largest existing dataset – documenting significant cost overruns for a majority of dams and questioning whether benefits typically offset costs for such dams.