With Donald Trump threatening to “take back” the Panama Canal from China, Nicaragua has changed its constitution to let the regime of Daniel Ortega grant a concession to a company or consortium to build an interoceanic canal, website Q Costa Rica reports.
The move, rubber stamped by Nicaragua’s National Assembly on Wednesday, revives a scheme that gripped the country in 2013, but never got off the ground.
China has expressed interest in a Nicaraguan canal in the past but, last May, Ortega cancelled a concession granted to a Chinese businessman to carry it out.
The prospect of an American takeover of the Panama Canal might increase Beijing’s interest in the scheme, which could cost around $50bn to build.
In November, Ortega offered the canal to China, and outlined a new route that it could follow.
Rather than passing through Lake Cocibolca, Nicaragua’s largest lake, it would pass through Lake Xolotlán, north of Managua.
The 445km route would start from a port to be built in the city of Bluefields in the South Caribbean Autonomous Region, pass through Lake Xolotlán and join the Pacific at Corinto.
It would have a depth of 27m, enough to accommodate the largest container ships presently in use.
There would also be large locks at either end of the canal, as well as an artificial lake.
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