Inter-Oceanic Canal

The project to build an Inter-Oceanic Canal to join the Caribbean and the Pacific through the Rio San Juan and Lake of Nicaragua was already signed by the President of Nicaragua Daniel Ortega. In Nicaragua the Canal would have better conditions than anywhere else, since it has sufficient water for construction, with its rivers on the Caribbean coast and two large lakes, one of the factors that make the process feasible. The Canal will use the Rio San Juan and the Cocibolca Lake, would have a length of about 250 km, with 5 possible alternate routes. This project (LAW NUMBER 800 LEGAL SYSTEM OF THE GRAND INTEROCEANIC CANAL OF NICARAGUA AND THE CREATION OF THE AUTHORITY OF THE GRAND INTER-OCEANIC CANAL OF NICARAGUA) conformed by 48 articles, among them the creation of the authority responsible for promoting the construction projects, that will require an investment amount of US $ 30,300 million dollars and with a 10 year construction period. One of the main objectives sought to be achieved by the construction of the Grand Inter-Oceanic Canal is to insert Nicaragua into the global market as an international center of communications, trade, finance and scientific development. One of the advantages is the Special Economic Zone, which by its nature of international public service, the route of the Grand Canal of Nicaragua and surrounding areas to be determined, will be considered as special zones to facilitate prompt and expeditious transit of ships through the national territory and the actual operation of the Grand Canal of Nicaragua. ARTICLE 42. LAW NUMBER. 800. Venezuela, Russia, Brazil, China, Japan and South Korea are part of the foreign capital that has shown interest in the Project.