Displaying items by tag: NICARAGUA

December 22nd , 2014 officially started the construction of the Nicaragua Canal. The start construction ceremony of this huge project (estimated cost over 50 billion dollars and record dimensions: 278km long and 500m wide approx.) has been welcomed by several controversies, in addition to causing protests by anti-canal demonstrators and the indigenous of the ethnic groups "ramas" and "Nahua" against the great inconvenience that the construction of the might cause to the native population and agriculture of the country.

In December 2014 works for the construction of the new inter-oceanic canal in Nicaragua could start, a work which costs about $ 40 billion and which is going to be completed within 5 years or so.

Officially, the new channel will be 278 km long with a maximum width of 500 meters, which will start from the town of Brito (in the Pacific Ocean) to flow into the Caribbean at Punta Gorda via Lake Nicaragua.

Works for the expansion of the Panama Canal by GUPC (Grupo Unidos por el Canal ) have started again. The GUPC, a consortium, is led by the Spanish company Sacyr and in which we also find the Italian Salini-Impregilo.

The construction works had been stopped before due to the breach of negotiations on the additional costs of 1,6 billion dollars (a price equal to half of the commission value of 3,3 billion dollars), but after several negotiations and the Consortium threat of suspending works if the Panamanian authorities had failed to provide the additional funds necessary to the conclusion of the Canal, Panama Canal Authority and the consortium GUPC have reached a partial agreement.

The Ortega government of Nicaragua approved the realization of an "alternative route" of transit between the Caribbean Sea and the Pacific Ocean less than 300 km from Panama. 

The project is worth 30 billion Euros and is going to be built by HK Nicaragua Canal Development Investment co, one of the many giants in Chinese fee that, in exchange for a concession of 50 years on the toll ( contract that can be renewable for another 50 years) and the use of the channel, will be in charge of the construction.