Nicaragua waterway to dwarf Panama canal (China Connecting to Atlantic)

Guardian ^

[My Favorite Headache]

Nicaragua's parliament is due to vote on Thursday on one of the biggest infrastructure projects in Latin America's history – a trans-oceanic canal that is to be built and run by a Chinese company.

If it goes ahead, the $40bn (£26bn) scheme, which is twice as expensive as Brazil's Belo Monte dam and likely to be three times longer than the Panama canal, looks set to transform global shipping and jump start the economy of this Central American nation.

As well as the waterway, the draft agreement between Nicaragua and a Hong Kong registered firm — Nicaraguan Canal Development Investment Co Limited – includes provisions for two free trade zones, an airport and a "dry canal" freight railway.

"This will be the largest project in Latin America in 100 years," Ronald Maclean, the executive fronting the operation in Managua told the Guardian. "If Nicaragua gets to do this, it is going to be a transformational project not only for Nicaragua but for the region."

Given the government's large majority, parliamentary approval is expected to be a formality, but critics warn the plan is being rushed through without adequate scrutiny of the environmental impact, business viability and public well-being.

Although hydro-engineering techniques have advanced considerably since the 48-mile (77 km) Panama canal was completed in 1914, the logistical challenge will be enormous. The new canal, which will pass through a much wider stretch of land, is likely to be more than 250km long. It will also be much wider to allow passage by the biggest container ships. The project will be operated by HKDN — a Hong-Kong based firm set up last year that has established a holding company in the Cayman Islands. It will pay $10m a year for 10 years to the Nicaraguan government.

[0.E.O]

The width of trans-oceanic ships have been mostly limited to the Panama width (110', I think) for 130 years.

The Panama Canal Expansion will be completed within the next 2 years. That will allow for ships as long as 1400 feet and with a beam of 180 feet drawing 60 feet. That will handle the overwhelming majority of ships out there.

[onedoug]

Try it sometime. China is not what America once was.