The long-suffering project of Nicaragua: it seems that there will be no competitor to the Panama Canal

The idea of creating a canal that would connect the Atlantic and the Pacific Ocean, first appeared in the XVII century. This would significantly accelerate the delivery of goods, as well as reduce transport costs. It is noteworthy that projects to build a canal through Lake Nicaragua (Nicaraguan Canal) and on the territory of modern Panama (Panama Canal) have long existed independently of each other and were actively discussed in political and business circles. The main initiator and sponsor of the construction of the channel were the United States.

After lengthy negotiations in the face of a difficult political and military situation in the region, the United States managed to achieve the exclusive right to build and subsequently own the canal. The result was the launch in 1914 of the Panama Canal, which, it would seem, forever crossed out plans for the construction of its competitor, the Nicaraguan shipping route.

Panama Canal

But the growing volume of world trade and the high congestion of the Panama Canal by the end of the 20th century led to the fact that the question of building a Nicaraguan double began to arise more and more often at many international negotiations. This time, China was the initiator and ideological inspirer of the construction, although the United States and the European Union also take part in a project called the Great Transoceanic Canal of Nicaragua.

In the summer of 2012, the leadership of Nicaragua approved the construction of a future canal on its territory. The total length of the path will be 278 kilometers, 105 of which will pass along the water area of Lake Nicaragua, and the rest - along riverbeds and by land. Thus, the total length of the channel, which will have to be laid on land, will be about 45 kilometers. While the Panama Canal had a “land” length of 65 kilometers, with a total length of 81.6 kilometers. In 2014, construction work began, which was not universally accepted by everyone and was accompanied by protests.

Lake nicaragua

Against the backdrop of environmental and political complications that arose since the start of construction work, the construction of the canal had to be stopped. At the moment, a multinational corporation, whose office is located in Hong Kong and which owns the rights to implement the project, has suspended funding for construction.