Beijing: The construction of the $50bn Nicaragua Canal is going to start on December 22, according to Zhu Xiaoya, an official from Hong Kong Nicaragua Canal Development Investment Company (HKND) which is leading the construction of the canal.
The 278-kilometer waterway will be longer, deeper and wider than the Panama Canal.
Opponents of the plan are concerned about the canal's effect on Lake Nicaragua, an important fresh water source for the country, as well as the impact on poorer communities.
Telemaco Talavera, a committee member for the development, said the feasibility studies were expected to be approved next month. The plan is to finish the canal within five years, with it becoming operational around 2020. [21/11/14]
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