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Nicaragua gives green light for canal to span oceans

Wednesday, July 4, 2012

The Nicaraguan Parliament approved president Daniel Ortega's plan to build a canal between the Caribbean and the Pacific Ocean.

The project would take up to 10 years to complete and require an investment of $30 billion.

However, opposition party members are doubtful about the government's plans to be a 51 percent shareholder of the project. They claimed that the government will not find a willing partner to invest for a stake of only 49 percent.

Full story (in Spanish)