Nicaragua unveils canal route

A Nicaraguan committee approved a proposed route on Monday for a $40 billion shipping channel across the Central American country that would compete with the Panama Canal.

The committee of government officials, businessmen and academics approved a 172 mile route from the mouth of the Brito river on the Pacific side to the Punto Gorda river on the Caribbean that was proposed by executives from the HK Nicaragua Canal Development Investment Group, HKND.

The proposed route still faces environmental and social impact studies that could recommend some changes to the plan, but those studies should be finished later this year to allow work to begin by December, said committee member Telemaco Talavera.

Source: The Telegraph