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President says the country will move forward with $40 billion canal project, pending feasibility studies.

A transoceanic canal through Nicaragua has long been a dream in that country. Many have tried, and failed, to complete a canal that would link the Atlantic and Pacific Oceans. But Nicaraguan President Daniel Ortega announced this weekend that the country would definitely be going forward with a $40 billion project to construct a canal and other infrastructure through the country, which he claims will help alleviate poverty in the country. The canal is still subject to feasibility studies being carried out by a Chinese company, Ortega said, but he has so far ruled out a contentious route along the San Juan River bordering Costa Rica.

 

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