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Chinese company to build Nicaraguan canal

Thursday, June 6, 2013

A concession to build a canal across Nicaragua linking the Pacific Ocean and Caribbean Sea will be awarded to a Chinese company, the National Assembly president said Wednesday.

Legislative leader Rene Nunez said the company will use funds from investors around the world to build the $40 billion project.

Nunez talked to local media after two bills for streamlining the process of building the canal and assessing its environmental impact were presented to lawmakers.

Source: Associated Press