The start of the construction works on the Nicaragua's planned interoceanic canal has been confirmed for December 2014. The Nicaragua Grand Canal will link the Pacific and Caribbean coasts of the country via a waterway expected to be three times longer than the Panama Canal.
Telemaco Talavera, a member of the Grand Canal Commission, commented:
“Construction of the great canal is scheduled to get underway in December. Logically, the first thing will be its ports, which have been a need and aspiration of Nicaragua’s.”
The infrastructure includes two ports, an airport, two sets of locks, an artificial lake, cement and steel factories, tourist facilities, a free-trade zone and roadways. The cost for the 286-kilometre waterway has been estimated to about USD 40 billion and it expected to be completed in 2019.
The Nicaragua Canal will have a draught of 27 m and width of 83 m, its lock will be 466 m long. It will be able to accommodate vessels up to 400,000 tonnes.