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In 1898 the Egyptian Government commissioned Sir William Willcocks, Sir Benjamin Baker, and Sir John Aird and Co for the construction of dams on the Nile at Aswan and Assiout. The project was a major deficit to the Egyptian Government. Bonds were issued with a series of dated pay warrants to a total value of £4.7mn payable over a 30 year period, which was from 1903 to 1933. These warrants were all purchased from Airds by the Irrigation Investment Corporation Ltd. |
