|Nicaragua Canal Could Replace Panama Canal|
|by Tom McGregor||Sun, Jul 20, 2014, 09:38 PM|
The government of Nicaragua is moving forward on plans to build the Nicaragua Canal that would replace reliance on the Panama Canal for global shippers.
Pravda reports that, "The recent announcement of an inter-oceanic canal in Nicaragua is now seen as a further step in realizing this project and as an opportunity to optimize global trade. Alberto Vega, of the company ERM - in charge of feasibility studies on the project - said in Managua that if this pathway becomes reality, it will meet current global demand for commercial transport."
The Nicaragua Canal is expected to have deepers river beds and ports of call to make it easier for large-scalle shipping to pass through. Nicaragua Canal officials have pledged to charge lower fees as well.
According to Pravda, "The new canal will provide service for the ships with a deeper keel and the route will be shorter between Asia and modern ports on the east coast of the United States and Europe, he said."
The Nicaraguan government has drafted a 5-year plan to complete the infrastructure.
To read the entire article from Pravda, link here:
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