Nicaragua approves massive canal proposal - WAOW - Newsline 9, Wausau News, Weather, Sports

Nicaragua approves massive canal proposal

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MANAGUA, Nicaragua (AP) -

A multi-billion dollar dream to plow a massive rival to the Panama Canal across the middle of Nicaragua has been approved by the country's leftist-controlled National Assembly.

It caps a lightning-fast approval process that has provoked deep skepticism among shipping experts and concern among environmentalists.

   The assembly voted Thursday to grant a 50-year concession to plan and build the canal to a Hong Kong-based company whose only previous experience appears to be in telecommunications.

   The legislation expected approved Thursday contains no specific route for a canal and virtually no details of its financing.

   Nicaraguans have tried for centuries to attract investors who would build a canal across the nation.

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