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Panama shrugs off Nicaragua's proposed rival canal

Thursday, July 12, 2012

Panama’s foreign minister, Roberto Henriquez, said that the construction of a canal in Nicaragua would not be a threat to his country, but he acknowledged that his government has not actually discussed the issue.

“I do not consider it a threat to the canal [in Panama],” he said. “In any case, it will serve another purpose. But eventually, if they do build a canal, it wouldn’t replace the Panama Canal.”

Nicaragua’s government submitted to its Congress a canal project a week ago. The project would cost an estimated at $30 billion, and six countries are said to be interested in financing it.

Source: Inside Costa Rica