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Nicaragua $50 Billion Canal Construction to Start in December

(IndustryWeek – AFP)

Nicaragua said a Hong Kong-based company will start building a $50 billion waterway next month, despite opposition from farmers and environmentalists against the mega-project aimed at rivaling the Panama Canal.

Hong Kong Nicaragua Development won the contract to build the waterway, which will link the Caribbean and the Pacific. Presidential adviser Paul Oquist said initial groundwork will begin December 22.  […]

The project is expected to include two ports, an airport, a resort and an economic zone for electricity and steel companies, while a 600-meter (2,000-foot) bridge will span the width of the canal. Read more here.