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Iran and Venezuela plan to build Nicaraguan rival to Panama Canal: sources

Thursday, November 11, 2010

The recent border dispute between Costa Rica and Nicaragua is a sign of an ambitious plan by Venezuela, Iran and Nicaragua to create a "Nicaragua Canal" to rival the existing Panama Canal.
Costa Rica says that last week Nicaraguan troops entered its territory along the San Juan River – the border between the two nations.
Sources in Latin America say that the border incident and the military pressure on Costa Rica, a country without an army, are the first step in a plan formulated by Venezuelan President Hugo Chavez and Nicaraguan President Daniel Ortega, with funding and assistance from Iran, to create a substitute for the Panama Canal.
Original source: Haaretz