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Nicaragua: New $40 billion canal route could revolutionise transoceanic trade01:38

Nicaragua: New $40 billion canal route could revolutionise transoceanic trade

Nicaragua, Nicaragua
July 9, 2014 at 23:59 GMT +00:00 · Published

The Nicaraguan government has approved a route for a new canal linking the Atlantic and Pacific Oceans. The mega-project will cost an estimated USD $40 billion, and is expected to compete with the Panama Canal.

The potential alternative to the Panama Canal will connect the Pacific coast of Nicaragua with the Caribbean Sea. The canal route presented in Managua will be built by the Hong Kong Nicaragua Canal Development Investment Company (HKND), headed by Chinese tycoon and lawyer Wang Jing.

Construction of the canal is set to begin in December 2014, and be completed within six years. The waterway will be some 172 miles in length, more than three times longer than the Panama canal, which took ten years to build.

Nicaragua: New $40 billion canal route could revolutionise transoceanic trade01:38
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Description

The Nicaraguan government has approved a route for a new canal linking the Atlantic and Pacific Oceans. The mega-project will cost an estimated USD $40 billion, and is expected to compete with the Panama Canal.

The potential alternative to the Panama Canal will connect the Pacific coast of Nicaragua with the Caribbean Sea. The canal route presented in Managua will be built by the Hong Kong Nicaragua Canal Development Investment Company (HKND), headed by Chinese tycoon and lawyer Wang Jing.

Construction of the canal is set to begin in December 2014, and be completed within six years. The waterway will be some 172 miles in length, more than three times longer than the Panama canal, which took ten years to build.

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