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Panama to Nicaragua: Go Ahead with Your Canal, It’s No Concern to Us

Article Summary:

The Panama Canal Authority has dismissed any concern for the future construction of an interoceanic canal in Nicaragua, arguing that “competition is good,” says the press office of the administration of the Panama Canal.

Photo Credit: Prensa Libre

Original Article Text From Prensa Libre via Google Translate :

Panama Canal Welcomes Initiative

“The proposed construction of a canal through Nicaragua does not worry us, because competition is always good,” the administrator Panama Canal Authority, Alberto German, said in a message from his office.

“That’s why, I repeat, any infrastructure project in the region is positive,” he said German.

Nicaragua’s government on Tuesday introduced last Congress a bill to build an alternative to Interoceanic Canal of Panama, at an estimated cost of $ 30 billion, and reported that six countries are interested in funding the great work.

Under the bill, the work would have six-way interconectarían the Pacific to the Atlantic.

“Today, the Panama Canal, as a route across water, and competitive advantages and added values ​​to maritime trade compared to other routes,” said German.

For the Panama Canal, 80 miles long, passes an estimated 5 percent of world trade every year.

More than a million ships have passed through its waters since it was inaugurated on August 15, 1914.

The Government of Panama Canal in 1999 received the hand of the United States, and since then has raised U.S. $ 6 billion 577 million, against only U.S. $ 1 billion 877 million it received in the 86 years of U.S. administration. The canal is being expanded from approximately U.S. $ 5 billion 250 million.

Link to Original Article:

From Prensa Libre

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