Construction of Nicaragua canal to begin December 22: committee

November 20, 2014 8:01 PM

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MANAGUA (Reuters) - Construction of Nicaragua's $50 billion Interoceanic Grand Canal, expected to rival the Panama Canal, will begin Dec. 22 after feasibility studies have been approved, the committee overseeing the project said on Thursday.

The route suggested for the 172-mile (278-km) canal, which would be longer, deeper and wider than the Panama Canal, was approved in July. Construction will be led by Hong Kong-based HK Nicaragua Canal Development Investment Co Ltd (HKND Group).

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