19 June 2013

Will Nicaragua have a canal linking the Atlantic and Pacific oceans?

From a story in the Wall Street Journal:
Nicaragua's legislators gave their poverty-stricken country one more chance at a dream that has eluded it for nearly 200 years, granting a Hong Kong company the right to build a $40 billion interoceanic canal...

The project envisions building a canal as long as 286 kilometers (178 miles), depending on which of four possible routes is used, as well as two deep-water ports, two free-trade zones, an oil pipeline, a railroad and an international airport...

Some experts say there is no need for another canal in Central America and doubt it will ever be built. A Nicaraguan canal would face competition from the Panama Canal—now undergoing a $5 billion expansion that will soon enable it to service larger ships—and transcontinental road and rail transport in the U.S...

In 1902, Nicaragua missed out when the proponent for the rival Panama project sent U.S. senators a stamp showing Nicaragua's Momotombo volcano spouting smoke. Spooked senators cast their vote for Panama.
Map via a BBC article.

1 comment:

  1. Well, it is pretty simple: China tries to secure its food future - they need to feed a large and increasing population.
    Brazil and Argentina are going to be the future's big players in agriculture and food production.
    1/5th of planet population is in China and 1/10th of land for agriculture is in China, so they need food and an independent access to it.
    Also the shortest way to the food from South America is via Pacific Ocean. Perhaps now they have enough money to built even a bridge to get the food :)))
    Panama Channel is too small and unable to fit the increasing demand / traffic from China, too old, too American ;)
    Let's wait and see the development of this story!


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