China Company to Build Panama Alternative?

Press Release
Friday, June 07, 2013

A concession to build a canal across Nicaragua linking the Pacific Ocean and Caribbean Sea is to go to to a Chinese company.

Citing Nicagaguan National Assembly legislative leader Rene Nunez, AP reports that the company will use funds from investors around the world to build the $40 billion project. He declined to name the Chinese company and did not give details of the concession.

President Daniel Ortega stated recently that the canal would not go along the San Juan River as it had been planned, but would be built farther north, through the waters of Lake Nicaragua. He saw the project, when completed, as offering an alternative to the Panama Canal.

Source: Associated Press

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Grandweld Delivers Vessel to ADNOC

United Arab Emirates leading shipyard Grandweld has delivered a dive maintenance and support vessel TAWAM1 to Abu Dhabi National Oil Company (ADNOC).   Grandweld

Turbocharger Retrofits for Royal Caribbean

MAN PrimeServ informs it has won the contract from Royal Caribbean Cruises Ltd. (RCCL) to retrofit the turbochargers aboard four cruise liners from its fleet.   The

Concordia Maritime Charters MR Tanker

Concordia Maritime has signed a contract for the charter of an IMO2/3 class MR tanker, the company announced today. The vessel will be chartered jointly with Stena Weco,


Fincantieri Launches Nuclear Waste Vessel for Russia

New semisubmersible floating platform will be used to transport special material decommissioned by the Russian Navy    Itarus, the new semisubmersible floating

Port of Bronka Prepares for Opening

Technical plant and equipment installation for the first stage of Bronka’s port facilities is now complete with the Liebherr LHM 800 mobile port crane installed at the end of September,

Vesper Marine Debuts New AIS Transponder

Marine safety products manufacturer Vesper Marine has released a new Class B Automatic Identification System (AIS), the XB-6000. The black box transponder includes

Maritime Contracts Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2161 sec (5 req/sec)