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Nicaragua Canal construction to commence?

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Construction is set to begin on the US$50 billion Nicaragua Canal project on December 22, 2014, following the expected approval of feasibility studies for the project.

The canal’s feasibility has been previously questioned by shipping industry experts who have said that it is not sustainable.

If approved, the project will be overseen by HK Nicaragua Canal Development Investment Co Ltd (HKND Group).

The route suggested for the 278km canal, which would be longer, deeper and wider than the Panama Canal, was approved in July.

Small alterations are to be made to the overall project.

Instead of using underwater explosives, dredging stretches will be used on the lake to create depth for mega-vessels.

The plan is to finish the canal within an ambitious five years, with it becoming operational around 2020.

A still of Nicaragua Lake. (Source: Global Table Adventure)

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