Nicaragua’s ambitious dream of building a canal to rival Panama’s famous waterway looks in peril as doubts pile up over whether its Chinese investor can cough up the $50 billion needed, analysts say.
Nicaragua awarded a concession in June 2013 to design, build and manage a US$40 billion canal to rival Panama. The canal would cost about four years’ worth of Nicaragua’s annual gross domestic product, and would likely be three times longer than the 48-mile (77-km) Panama Canal, which took a decade to build.
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