Sun. Jun 16th, 2024

The new £32 billion mega-canal longer than Suez that could have ended shipping chaos

Tyler Mitchell By Tyler Mitchell Jun6,2024

The proposed £32 billion Nicaragua Canal, which would have linked the Atlantic and Pacific Oceans, could have ended shipping chaos and blockages at the nearby Panama Canal.

The idea of constructing a canal using the San Juan River as an access route to Lake Nicaragua was first proposed in the colonial era.

However, after acquiring French interests in the Panama Canal in the early 20th century, the US decided against building in Nicaragua, although it did secure rights and conducted studies for such a project.

But in June 2013, Nicaragua’s National Assembly gave the green light to a bill granting a 50-year concession to the HK Nicaragua Canal Development Investment Group (HKND), led by Chinese businessman Wang Jing, to finance and manage the project.

The Government claimed that the canal would help transform global shipping. 

Nicaragua’s President Daniel Ortega said the mega-canal would help boost the economy and provide tens of thousands of jobs for locals. 

But despite being touted as “ground-breaking” in 2014, there has been no work done on the canal, tipped to be one of the world’s biggest civil engineering and construction projects,

It has faced some controversy after activists and scientists voiced concerns over environmental impacts and the negative consequences on locals. 

Critics said it would displace an estimated 120,000 people, mostly rural families, in the countryside. 

Following backlash, Nicaragua this week has cancelled plans to build the controversial canal. 

Thousands of Nicaraguan farmers took to the streets in protest against the government-endorsed project.

In a shocking 2019 ruling, a Nicaraguan judge handed down sentences to three farmers involved in the demonstrations, slapping them with prison terms of 216 years, 210 years, and 159 years.

The trio were charged with instigating a “failed coup” against the state, despite Nicaraguan legislation limiting jail time to a maximum of 30 years. 

Tyler Mitchell

By Tyler Mitchell

Tyler is a renowned journalist with years of experience covering a wide range of topics including politics, entertainment, and technology. His insightful analysis and compelling storytelling have made him a trusted source for breaking news and expert commentary.

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2 thoughts on “The new £32 billion mega-canal longer than Suez that could have ended shipping chaos”
  1. It’s a shame the Nicaragua Canal project was just a lofty dream. The potential benefits it could have brought were enormous, but the environmental and social impacts should not have been ignored. It’s crucial to prioritize sustainability and community well-being in such ambitious endeavors.

  2. Is there any update on the current status of the Nicaragua Canal project given the environmental and social concerns raised?

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