Chinese firm to build Nicaragua shipping channel

Nicaraguan lawmakers granted a 50-year concession to a Chinese company on Thursday for it to design, build and manage a shipping channel across the Central American nation that would compete with the Panama Canal.

The US$40 billion proposal by HK Nicaragua Canal Development Investment's (HKND Group) calls for linking Nicaragua's Caribbean and Pacific coasts and includes plans for two free-trade zones, a railway, an oil pipeline and airports.

via Business feed http://www.scmp.com/business/companies/article/1261147/chinese-firm-build-nicaragua-shipping-channel