Construction to Begin on $50Bn Nicaragua Canal Linking Atlantic and Pacific Oceans

By Admin
A giant canal in Nicaragua joining the Atlantic and Pacific Oceans will be under construction as of December 22.Government officials confirmed that the...

A giant canal in Nicaragua joining the Atlantic and Pacific Oceans will be under construction as of December 22.

Government officials confirmed that the $50 billion project will be built within five years with the target of becoming operational by 2020.

The canal will span 278 kilometres (172 miles) and will be longer, deeper and wider than the famed Panama Canal.

Construction will begin with the building of a port on the Pacific end of the waterway, which will eventually pass through Lake Nicaragua, cause of much local opposition worried about the impact on the fresh water supply and surrounding communities.

The project is expected to include two ports, an airport, a resort and an economic zone for electricity and other companies. A 600 metre bridge will cross the canal, which is being built by Hong-Kong construction company HKND.

Nicaraguan President Daniel Ortega believes that the scheme will help lift half of the country’s population out of poverty, while sceptics argue that the businessmen behind the project lack experience in the development and financing of infrastructure work of this scale. 


Featured Articles

All you need to know about Saudi real estate developer ROSHN

Saudi Arabia’s leading real estate developer, ROSHN, is building communities covering 200 million sqm to help boost home ownership to 70% by 2030

Arcadis signs collaboration with Canadian start-up Niricson

Agreement will combine Arcadis’ expertise with Niricson’s predictive analytics platform to develop a non-invasive way to safely inspect and monitor concret

Italy’s Cannon Artes wins $31m Egyptian desalination project

Turnkey contract win from SOPC will see Italian firm deliver an integrated desalination & demineralisation plant as part of modernisation of Suez refinery

Saudi Arabia to build three new stadiums for Asian Cup 2027

Construction Projects

Neoen’s Storen Power Reserve begins construction in Sweden

Construction Projects

Masdar works with African countries on renewable projects

Construction Projects