Route for Nicaragua’s Great Inter-Oceanic Canal announced

Nicaragua canal proposals 2013, by Soerfm / wikipedia

Nicaragua canal proposals 2013, by Soerfm / wikipedia

A $40 billion project inter-oceanic Pacific-Atlantic canal
with a projected passage time of 30 hours, coast to coast
.

***

Route for Nicaragua’s Great Inter-Oceanic Canal Announced

LPAC
July 10, 2014

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)

***

From wikipedia:

The Nicaragua Canal (also referred to as the Nicaragua Grand Canal, or the Nicaragua Interoceanic Grand Canal) is a proposed shipping route through Nicaragua to connect the Caribbean Sea (and therefore the Atlantic Ocean) with the Pacific Ocean. Construction of such a shipping route (using the San Juan River as an access route to Lake Nicaragua) was first proposed in the early colonial era. Napoleon III wrote an article about its feasibility in the early 19th century. The United States abandoned plans to construct a waterway in Nicaragua in the early 20th century after it purchased the French interests in the Panama Canal. In June 2013, Nicaragua’s National Assembly approved a bill to grant a 50-year concession to the Hong Kong Nicaragua Canal Development Investment Company (HKND Group) to build the waterway.

Nicaragua Canal Panorama (1899) / wikipedia

Nicaragua Canal Panorama (1899) / wikipedia

Wang Jing, a Chinese billionaire who leads and wholly owns HKND Group, announced at a press briefing in June 2013 that he had successfully attracted global investors to the $40 billion project. In January 2014 Wang Jing and the Nicaraguan President Daniel Ortega issued a statement that construction of the project would begin in December 2014, and that it will be completed in 2019.

The Moscow Times has reported that Russia will take part in the building of the Nicaragua Canal, viewing the project in part as an opportunity to pursue strategic interests in the region. (2)

References:

  1. http://larouchepac.com/node/31265
  2. http://en.wikipedia.org/wiki/Nicaragua_Canal

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