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Nicaragua canal: Construction to begin in December | |
(about 2 hours later) | |
Nicaraguan officials say construction of a $50bn (£31bn) canal linking the Atlantic and the Pacific oceans will start on 22 December. | Nicaraguan officials say construction of a $50bn (£31bn) canal linking the Atlantic and the Pacific oceans will start on 22 December. |
"We are ready to begin," said Zhu Xiaoya, from the Hong Kong-based company HKND which is to build it. | |
The 278km (172 miles) waterway will be longer, deeper and wider than the Panama Canal. | |
Opponents are concerned about the impact it may have on Lake Nicaragua and on poor communities in the area. | Opponents are concerned about the impact it may have on Lake Nicaragua and on poor communities in the area. |
The route announced in July would pass through the lake, an important source of fresh water. Construction will begin with a port on the Pacific. | The route announced in July would pass through the lake, an important source of fresh water. Construction will begin with a port on the Pacific. |
Environmentalists have warned of the risks of damming rivers and moving massive amounts of soil. Communities along the route have staged protest marches. | Environmentalists have warned of the risks of damming rivers and moving massive amounts of soil. Communities along the route have staged protest marches. |
The plan is to build the canal within five years and have it operational by 2020. | The plan is to build the canal within five years and have it operational by 2020. |
The project is expected to include two ports, an airport, a resort and an economic zone for electricity and other companies. | The project is expected to include two ports, an airport, a resort and an economic zone for electricity and other companies. |
A 600m (2,000ft) bridge would span the width of the canal. | |
"We are sure that the rumours about the project will end as it advances and this century-old dream of Nicaraguans is realised," said Mr Zhu. | "We are sure that the rumours about the project will end as it advances and this century-old dream of Nicaraguans is realised," said Mr Zhu. |
President Daniel Ortega of Nicaragua has said in the past that the project will help alleviate poverty for more than half the country's population. | President Daniel Ortega of Nicaragua has said in the past that the project will help alleviate poverty for more than half the country's population. |
But some have questioned the canal's financial soundness and allege Wang Jing, the Chinese businessman behind the plan, lacks experience in developing or financing big infrastructure projects. | But some have questioned the canal's financial soundness and allege Wang Jing, the Chinese businessman behind the plan, lacks experience in developing or financing big infrastructure projects. |