Aswan Dam allies in the Middle East, including Turkey and Iraq, were irritated and jealous that Egypt, a persistently neutral country, was being offered so much aid. In June 1956, the Soviets offered Nasser $1.12 billion at 2% interest for the construction of the dam. On 19 July the U.S. State Department announced that American financial assistance for the High Dam was "not feasible in present circumstances." On 26 July 1956, with wide Egyptian acclaim, Nasser announced the nationalization of the Suez Canal as well as fair compensation for the former owners. Nasser planned on the revenues generated by the canal helping
Lock and Dam No. 19 by a gantry crane that travels on the service bridge above the dam. At the time it was completed it was second in length only to the Aswan Low Dam on the Nile River. Construction began in 1910 and when completed in 1913 it was the largest capacity, single powerhouse electricity generating plant in the world. The Power House and spillways are owned and operated by Ameren Missouri and has a 142 MW capacity. The powerhouse contains 15 generators, originally designed to produce 25 Hz instead of the 60 Hz alternating current used today. Keokuk and Hamilton Water Power landed