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It is Happening! Nicaragua Signs Bill to Build Its Own Canal

Article Summary:

Nicaraguan President Daniel Ortega has signed into law a bill that will allow the Central American nation to proceed with its plans to build a US$30 billion transoceanic canal through Nicaragua. The waterway would be built over a period of no more than 10 years and could be completed by 2019.

Photo Credit: English RUVR

Original Article Text From Breakbulk:

Nicaragua Passes Canal Construction Bill

Nicaraguan President Daniel Ortega has signed into law a bill that will allow the Central American nation to proceed with its plans to build a US$30 billion transoceanic canal through Nicaragua.

The canal has been framed as an alternative to the Panama Canal, which is building new locks to accommodate larger vessels. The expansion is scheduled to be completed in early 2014.

However, the bill sent by Ortega to the National Assembly states that “the project would complement and not compete with the Panama Canal.” Nicaragua’s canal would be built with the capacity to handle 416 million tonnes of cargo each year.

The waterway would be built over a period of no more than 10 years and could be completed by 2019.

Link to Original Article:

From Breakbulk

  • Robert in Canada

    This will be of great concern to Panamanians who understand that their wealth, health, and well-being depends (more than any other factor) on how well businesses and their economy are doing.

    For all the un-informed and mis-informed Panamanians (the majority) the Nica canal will mean nothing. They believe their well being depends on Government “programmes” or on their Union leaders.

    Same sad case as in most other countries.

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