Company to Start Building Transoceanic Canal in Nicaragua

March 5, 2015 9:50 AM

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Company to Start Building Transoceanic Canal in Nicaragua

A private company in Hong Kong known as the Hong Kong Nicaragua Canal Development Investment Company (HKND) has been given the green light to start the $50 billion work on a canal that will connect the Pacific and the Atlantic Ocean through Nicaragua. The project, which will be significantly longer than the Panama canal could bring huge economic benefits, saving a lot of time and resources, but it also raises major environmental concerns.

About one fifth of Nicaragua’s territory is designated as protected areas like national parks, nature reserves, and biological reserves. Good soils and a favourable climate combine to make western Nicaragua the country’s economic and demographic centre, while the unique conditions in several places ...

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