Panama Canal
Colombia, France, and later the United States controlled the territory surrounding the canal during construction. The US continued to control the canal and surrounding Panama Canal Zone until the 1977 Torrijos–Carter Treaties provided for handover to Panama. After a period of joint American–Panamanian control, in 1999, the canal was taken over by the Panamanian government. It is now managed and operated by the government-owned Panama Canal Authority.
Panama Canal
The construction of the canal was completed in 1914, 401 years after Panama was first crossed by Vasco Núñez de Balboa. The United States spent almost $500,000,000 (roughly equivalent to $9,169,650,000 now) to finish the project. This was by far the largest American engineering project to date. The canal was formally opened on August 15, 1914, with the passage of the cargo ship .