A project, a rival to the Panama Canal, under the Chinese flag

Nicaragua

Monday 10 June 2013

The Canal would be realized in the south and would cross the Nicaragua lake.

Nicaragua considers an inter-oceanic canal, rival of the Panama Canal.

Daniel Orteraga, president of Nicaragua, announced the project of a rival canal of the Panama Canal. A concession was awarded to a consortium, of Chinese companies based in Hong Kong, for the construction of this Canal.

The Nicaragua Canal will total 286 km long and will have a depth of up to 60 meters . It will be coupled with a "dry canal", a railway line and an oil pipeline as well as two airports. The works are estimated to 40 billion U.S. $ and could begin from May 2014, after the feasibility studies.

This mammoth project is qualified in Nicaragua as "fraud" by the members of opposition. In case of implementation, the project will highlight the growing influence of China on the world trade and weaken the American domination on navigation between the Atlantic and Pacific Oceans.

source : guardian co uk, usa today com