A $40 billion project inter-oceanic Pacific-Atlantic canal
with a projected passage time of 30 hours, coast to coast.
Nicaragua’s Gran Canal Committee, and Wang Jing, owner of the China-based HKND Group which is to build the project, announced, this Monday, the route chosen for construction of the inter-oceanic Pacific-Atlantic canal, moving the project forward.
The canal will run 173 miles from the mouth of the Brito River on the Pacific coast in southeastern Nicaragua, to the mouth of the Punta Gorda River on the Caribbean side. It will include two locks, and 65 miles of it will pass through Lake Nicaragua, and have a projected passage time of 30 hours, coast to coast, for the 5,100 of the largest ships in the world which will be able to use this canal. The canal project engineer, Donlg YungSong, said the plan includes construction of an artificial lake, similar to Lake Gatun in Panama, which will supply water to operate the canal, and serve as a center of aquaculture and “eco-tourism.”
HKND projects that over 50,000 construction workers will be required, and that once in operation it will generate 200,000 jobs, including its sub-projects (airport, two ports, tourist center, etc.)
Nicaraguan President Daniel Ortega, in announcing the route yesterday, held up a book containing the feasibility studies for constructing such a canal produced by the United States government and adopted by the U.S. Congress 118 years ago, detailing the benefits such a canal would bring.
But instead of supporting the decision to build the long-overdue project, the Wall Street lackies currently dominating the United States are gearing up to oppose it. Council on Foreign Relations fellow Shannon O’Neill is putting out snide interviews on how choosing a route is only the first step; environmental and monetarist concerns have to be addressed. Brookings Institution’s Richard Feinberg wrote yesterday that the U.S. administration had “so far … remained quiet, privately assessing the project’s likelihood as low, and ‘not wanting to fan the flames,’ in the words of one senior U.S. official. But as the project gains traction, Washington will surely react.” (1) (emphasis added)