Good day,
I started buying land on Little Corn Island in 2012 because I loved the place. In late 2013 I heard rumors of the possibility of building a Nicaragua Canal to “compliment” the one in Panama. The Panamanian canal has all sorts of issues; primarily the width and price. They are expanding it I heard but even then, boats are growing faster than the expansion and it’s old hat.
Just today, according to BBC, the route for the Nicaragua Canal has been finalized and they plan on breaking ground this year. The canal would stretch 173 miles or 278km and start in the Caribbean not that far from where I live and end in the Pacific… This is some pretty crazy news and lots of expats I know from the islands are against it; I on the other hand remain indifferent. Everything has its pros and cons, yes?
Skeptics say it’s not possible blah blah because it’s roughly 77km longer than the Panama Canal which was quite a feat, yes? That said, I’m of the school of thought that we are a heck of a lot more clever than we were in 1914 so we shall see. It’s a huge project to the tune of ~$40bn and will probably cost considerably more.
Either way, shit just got interesting for Nicaragua and I can see a future filled with more jobs and a lot of prosperity for all those who get in on the trade in the region. I’m just thinking of the two free-trade zones and how people love ordering stuff online at discount prices… There are some environmental concerns but when isn’t there?
Indeed and read the full article here.
Will it actually happen? Who knows but huge news for Nicaragua nonetheless.
P.S: Those two little dots above “P” in Punta Gorda are the Corn Islands.
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Looks like it could significantly damage the ecosystem in the freshwater of Lake Nicaragua if not constructed well. Those huge international ships carry a ton of foreign species on their hulls.
It could yes but Nicaragua is one of the poorest countries in the northern hemisphere; it needs something like this. Also, those lakes aren’t so clean to begin with.
Ah, excellent points.
Dubz, I would expect the money will be absolutely flowing… What’s the best way to capitalize on this?? Hmmm…
I haven’t put that much thought into it but it’s definitely interesting…
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and more.
The original canal (now Panama) was planned to go through the same route chosen by the Chinese. JP Morgan opted for the Panama route when he figured out he and his cronies would have a hard time looting Nicaragua.
How to capitalize on the new canal? You can’t. It is all about China and Nicaragua (and left wing allies) saying FUCK YOU WASHINGTON!
You’re not smarter than The Fly and there will be lots of opportunities for many people to make bank; think about it again.
Dubz, the only opportunities I potentially foresee are in some Chinese stocks which I avoid like smelly roadkill on a hot Summer day. I own a business in neighboring Costa Rica and nobody, I mean nobody, down there is finding anything good about this canal project. The average Nicaraguan thinks it is a scam for Ortega to bank coin, Chinese coin, into his pockets.
Many are saying that in Nicaragua too; I’m not betting on it happening but I’m also not ruling it out.
Should it go through, lots of opportunities to make money with those free zones, run services related and so on.