Nicaragua renews environmental permit for Chinese canal

Nicaragua has renewed an environmental permit for a Chinese company to go ahead with planned construction of a cross-country shipping canal to rival the one in Panama, a government document published Wednesday showed.

The permission was renewed back in April but was not made public until the release of the report on the mega-project.

Excavation work has not yet started on the proposed 276-kilometer canal, which is budgeted to cost $50 billion.

Source: AFP