Hong Kong: A Nicaraguan committee has approved a proposed route for a $40bn channel across the Central American country that would compete with the Panama Canal. The plan has been launched by Beijing telecoms tycoon, Wang Jing via his Hong Kong firm HKND.
The 278 km route from the mouth of the Brito river on the Pacific side to the Punto Gorda river on the Caribbean would pass through Lake Nicaragua and will be between 230 mand 520 m wide and 27.6 m deep.
The plan is to finish the canal in 2019 and begin operations in 2020. [08/07/14]
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