Chinese company to build canal across Nicaragua to link Atlantic and Pacific Oceans
A Chinese company has been granted exclusive rights to plan and build a canal across Nicaragua that links the Atlantic and Pacific Oceans.
The controversial project, estimated to cost $40 billion and intended to rival the Panama Canal, was approved by Nicaragua's National Assembly despite the route being undecided and few details being available about its viability.
Jacinto Suarez, a congressman in President Daniel Ortega's Sandanista Front, told the Assembly debate: “Opposing it is unpatriotic.”
The Chinese company, HK Nicaragua Canal Development Investment Co, that has been voted a 50-year concession to build the canal is based in Hong Kong but has little apparent experience in construction.
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