China Firm Gets Concession for Massive Nicaragua Canal

Friday, 07 Jun 2013 11:07 AM

By Jim Meyers

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Nicaragua has reportedly awarded a Chinese company a 100-year concession to build a canal linking the Pacific and Atlantic Oceans across the Central American nation, with a capacity that dwarfs that of the Panama Canal.

Investigation: China Secretly Stockpiling Gold

The Nicaraguan government of Daniel Ortega said the canal should be able to allow passage to mega-container ships that are more than double the size of the vessels that will be able to pass through the Panama Canal after its ongoing $5.2 billion expansion, according to The Guardian.

The name of the Chinese company was not released.

But the Guardian observed that the proposed 178-mile canal would have "profound geopolitical ramifications" and "reinforce Beijing's growing influence on global trade and weaken U.S. dominance over the key shipping route between the Pacific and Atlantic Oceans."

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Gabriel Garcia Marquez, Nobel Laureate, Dies at 87

Thursday, 17 Apr 2014 17:01 PM

Gabriel Garcia Marquez, the Nobel laureate whose novels and short stories exposed tens of millions of readers to Latin A . . .

Brazil Unveils $10 Billion Infrastructure Budget for Rio Olympics

Thursday, 17 Apr 2014 11:23 AM

Brazilian authorities unveiled an infrastructure budget of 24.1 billion reais ($10.76 billion) for the Rio 2016 Olympic  . . .

El Salvador to Use Terror Charges Against Gangs

Thursday, 17 Apr 2014 11:13 AM

El Salvador's government on Wednesday said it would charge gang members who attack police and military personnel under a . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved