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Via the BBC: Nicaragua canal construction ‘will not begin until 2015’
The head of the canal authority, Manuel Coronel Kautz, says more time is needed to carry out feasibility studies and choose a route.
The estimated cost of the projected waterway is $40bn (£25bn).
I will believe this when I see it.
The notion of a canal across Nicaragua dates back to the mid-19th century.
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@Ron Beasley: I am not so sure–especially since they are currently expanding the Panama Canal.
The Second Canal would make more sense if Brazil did a better use of her ports in the North/Northeast of Country – the largest Brazilian ports are located on the South/Southeast, where the Pacific can be easily reached via the Cape of Good Hope or via the region between South America and Antarctica.
The Americans, the Canadians, the Mexicans and Colombians can reach the Pacific via railway, it makes more sense.
@Steven L. Taylor: It seems like a shame to mess up a fresh water lake for a canal that isn’t needed but I agree with you that it probably isn’t going to happen.
@Andre Kenji: The Brazilian ports are located in the south because that is where most of the economic activity is.
@Steven L. Taylor: Panama is presently having difficulties with cost over runs. I rather doubt that this will actually stop the project, but I do wonder how long these issues will delay it.
@Ron Beasley: More or less. The soy that´s produced in the Midwest could be easily exported via Fortaleza, São Luis or Belém, and that could alleviate regional disparities of wealth.
But the advantage of the Southern Ports is that they can easily reach the Pacific without any type canal.
