Routing of Nicaragua canal to change
The Chinese HKND Group that is planning to build a new canal across Nicaragua is changing the planned route to avoid the town of El Tule on the southeastern side of Lake Nicaragua. The company stated the project had broad public support with 78% of Nicaraguans backing construction of the 275 km waterway.
The budget for project has been set at USD 50 billion, and the alteration to the route will cost USD 700 million. The projected cost is about five times the gross domestic product of Nicaragua - Central America’s poorest country.