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A $50 billion canal to be built by a Chinese tycoon in Nicaragua would be deep enough to allow submarines to pass through undetected. Billionaire Wang Jing has spearheaded what is one of the biggest engineering projects in the world and is three times the size of any other canal, yet shipping forecasters don’t anticipate a need for such a route in terms of trading. Many believe that Wang, who has not disclosed who his investors are, may be backed by the Chinese Government who hope to get a foothold in the continent where business has traditionally been dominated by...

Tyler Durden 08/06/2014 A month ago, a Nicaraguan committee approved Chinese billionaire Wang Jing's project to create The Nicaraguan Canal. With a planned capacity to accommodate ships with loaded displacement of 400,000 tons (notably bigger than The Panama Canal), the proposed 278-kilometer-long canal that will run across the Nicaragua isthmus would probably change the landscape of the world's maritime trade. "The project is the largest infrastructure project ever in the history of man in terms of engineering difficulty, investment scale, workload and its global impact," Wang told reporters, adding that with regard the project's financing, which is around $50 billion,...