Chinese Company to Get Nicaragua Canal Concession

The National Assembly president stated yesterday that a concession to build a canal across Nicaragua will be awarded to a Chinese company.

The company plans to use money from investors around the world to create the $40 billion waterway which will link the Pacific Ocean and Caribbean Sea, reports usnews.com.

According to Nicaraguan President Daniel Ortega, this canal would be an alternative to the Panama Canal and would generate jobs for impoverished Nicaragua.

Legislative leader Rene Nunez said that this project is very important for Nicaragua and that is why it is being pursued with urgency.

Nunez would not identify the company or discuss the concession.

[mappress]

Dredging Today Staff, June 6, 2013