The Nicaragua Canal Project is Back in the News Once Again.  Cost Estimate $64.5 Billion

The new Nicaraguan interoceanic canal project would cost around $64.5 billion and would be longer, at around 445 kilometers, compared to the 80 kilometers of the Panama Canal. The data was revealed by the Minister of Transport and Infrastructure of Nicaragua, Oscar Mojica, in which he indicates that a different route has now been designed than the one proposed a few years ago.  Below is the picture of the 2014 route vs the 2024 route. The minister acknowledged that the previous route affected protected areas in Nicaragua, such as the largest freshwater reserve in Central America, Lake Cocibolca. In the new project, he assured that this reserve would not be touched.  He explained that the new route would cross the country from the port of Bluefields, in the Nicaraguan Caribbean, and would advance towards the Pacific Ocean, crossing Lake Xolotlán in Managua, to Puerto Corinto, in Chinandega.  He also revealed that the proposal is for this canal to have locks 510 metres long, 77 metres wide and 27 metres deep to allow the passage of larger ships.  He said that tax incentives would be provided for construction. 

Above wording was the official version from Daniel Ortega in Nicaragua.  The unofficial or truer version suggests that this is another pipe dream for Daniel, and this project has little if any possibility of ever being completed, let alone started.  The new route is simply unviable.  This mega-project, which was originally awarded to the Hong Kong Nicaragua Canal Development Investment Co. (HKND Group) owned by the late Wang Jing, presented at the time as one of the richest men in China, but who actually turned out to be a swindler.  The US Government has also stated that Nicaragua is involved heavily in money laundering efforts to raise money for this canal that will never be.  This is just a word of warning for any would-be investors interested in the Nicaragua Canal Project.