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Nicaragua still mulling $30 billion canal project

Thursday, December 27, 2012

Nicaragua has signed an agreement with a Chinese company for a $30 billion canal between the Atlantic and the Pacific.

Nicaraguan President Daniel Ortega is looking for foreign investment from Brazil, China, Russia and Venezuela to help build the waterway as an alternative to the Panama Canal.

For more than 150 years, the country has looked to build a canal across Central America but has never been able to get the project off the ground.

Source: AlJazeera