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Friday, January 29th, 2016  |  USD: Buy 531.29 / Sell 543.92
20 years

Nicaragua approves route for $40 billion canal

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  • NorthendFool

    Salt water from the oceans mixed with the fresh water in the lake will kill off every living thing. No more irrigation from the lake either. Ortega was in such a hurry to jump start this project he had his cronies start digging a new route by hand and violating CR territory. Maybe once this pipe dream starts Ortega will give Maduro and Putin and all the others a break on the begging for cash and assistance. Im sure Ortega will enjoy skimming the millions from this project. Now can CR have their land back? Please!!!! LOL

    • Frank Castle

      We shall see in December if they even break ground. Let’s check back then.

  • expatin paradise

    This is a disaster waiting to happen. Even an unsuccessful attempt could cause irreparable environmental damage, jeopardizing a major fresh-water supply at a time when fresh water is becoming scarce.

    If this project is completed, even if it does not increase the salinity of the lake, the traffic of large ocean-going vessels through the lake will have an adverse effect. Since this “canal” would be three times the length of the one in Panama, it would add considerable time to the crossing and encourage ships to make up much of that time by picking up speed across the lake. We can expect spills that will contaminate the water supply.

    Another issue is safety in the world and the movement of contraband between countries. With the Chinese controlling the canal, does anyone believe that a ship carrying nuclear weapons from Cuba to Korea would be detained? Perhaps an international canal treaty could resolve to maintain control, but there is reason to be skeptical of both the Chinese and the Nicaraguans.

    • Ken Morris

      So Nicaragua should remain the second poorest country in the Western Hemisphere because outsiders are concerned about maybe-possibly-probably some environmental damage? I think we disagree. Heck, the water in Nicaragua is already terrible, largely because there’s no money, but I guess keeping Nicas poor and their water terrible is environmentally responsible.

      And I wish people would lighten up about the Chinese. The head of the investment company happens to be Chinese, but it’s not a government-owned Chinese company or even headquartered in China. Control is also 50/50 between the company and Nicaragua’s government, with control later going to Nicaragua completely.

      And what is to prevent the US or any other country from transporting nuclear weapons through the Panama canal? Heck, wasn’t such recently discovered there? How much has gotten through without being discovered? I’m sensing a double standard here.

      This canal is really a great thing for Nicaragua, and to my mind responsible criticisms should attend to the risks of specific design and control features, not bash the canal itself.

      • expatin paradise

        Ken, I agree that the same standards should be applied across the board, and I don’t give the US a pass on arms or other hazardous materials, either. The only discovery I know about of illegal weapons being intercepted in the Panama Canal was of old Soviet weapons being smuggled to north Korea from Cuba, and I doubt that they would have been intercepted if Chinese and/or Nicaraguans were doing the inspection. While I concede your point on it being a Chinese company rather than the government involved in the canal venture, I don’t know that there is much difference because companies that fail to please the party don’t operate freely for long.

        A canal has the potential for benefiting Nicaragua considerably, but such an undertaking should not even be considered until independent environmental impact studies are performed and environmental damage minimized. We already have Pacific species invading the Caribbean via the Panama Canal, and do not need to exacerbate that problem or introduce problems in Lake Nicaragua. The fact that the parties involved are not releasing their own studies or detailed plans is distressing. Perhaps there is a way to build improved locks that will minimize cross-contamination between the bodies of water, but innovations will not be considered once the project is begun. There is at least one significant lake in the Panama Canal which might
        serve as an example of the potential impact of a canal on a lake and a
        model for improved technologies. We know more now about environmental impacts than when the Panama and Suez Canals were built. If those projects were being considered today, I hope that environmental impact studies would be required.

        I don’t bash the suggestion of a canal through Nicaragua, but the plan to go ahead with the project without first ensuring that the plan will not cause significant and irreparable damage. The problem is the fact that the route has been determined but the details are still being withheld.

  • disgusted

    I see what China has done to it’s own country where the water unfit to drink. I have see on BBC news what China has done to Africa gold mines and other mines ruining country after country. For what? Money greedy government leaders on both sides. China does not care if and when they ruin this lake forever and this sea port canal. The poor people of Nicaragua will be just victims, well more so. Government, Ortega will have the money… I guess he and his conies can live far away from this coming disaster.

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