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Nicaragua canal to not compete with Panama

Wednesday, July 2, 2014

The interoceanic canal that Nicaragua plans to build will not compete with Panama’s because it does not target the same market segment, a senior Nicaraguan ruling party lawmaker said.

The statement by Edwin Castro, head of the Sandinista bloc in the National Assembly, comes in the same week that the government is expected to unveil the route of the canal.

The concessionaire, China’s HKND Group, says the Nicaraguan facility will be able to accommodate ships of double the cargo capacity that the Panama Canal can allow.

Source: Latin American Herald Tribune