Nicaragua Congress approves construction of waterway to Panama Canal
Published:Friday | June 14, 2013 | 3:13 PM
The Nicaraguan Congress has approved a proposal to have a canal built linking the Pacific and the Atlantic Oceans.
A Hong Kong-based company has been granted a 50-year concession to build the waterway, which will rival the Panama Canal.
The 40 billion US-dollar plan has been criticised by environmentalists, who say cargo ships will create a permanent risk to Lake Nicaragua.
But President Daniel Ortega says the project will bring prosperity.
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