New canal a lifeline for energy
By Wei Tian and Xing Zhigang | China Daily | Updated: 2013-06-26 06:47
Analysts warn of risks for massive Nicaragua project worth $40b
The Chinese businessman behind an ambitious plan to build a waterway across Nicaragua to rival the Panama Canal stressed on Tuesday that the new canal will serve as a lifeline for global energy trade when completed in 2020.
Wang Jing, 40, a Beijing native, said at a news conference that the $40 billion project would break ground in late 2014 and complete construction within six years.
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