Nicaragua Canal: China's Boondoggle or Brilliant Strategy?
Nicaragua Canal: China’s Boondoggle or Brilliant Strategy? Photo fo the Rio San Juan

TODAY NICARAGUA – Projects related to a canal in Nicaragua are progressing today as planned and negotiations on the properties in the site are in process, said Telemaco Talavera, member of the Commission of the Grand Canal.

Talavera, also president of the National Council of Universities highlighted the interest of European businesspeople, particularly from Spain, in participating in the construction of the canal.

The canal will have some 278 kilometers in length and a 105-kilometer section of that route will be across the lake Cocibolca.

It will cross the Brito river in Rivas, about 100 kilometers from the capital city, it will also cross the lake and the surroundings of the Tule river until the mouth of the Punta Gorda river.

Its total cost is valued at $50 billion USD and its construction is expected to last five years.

Along with the canal, there will be an airport, several roads, an area of free trade, resorts and two ports, one on the Pacific Ocean side and one on the Atlantic.

(Via Prensa Latina)