The Associated Press
is reporting that a concession to build a canal across Nicaragua will be considered by the country's legislature this week
quoted Rene Nunez, president of Nicaragua's National Assembly, as saying a Chinese company, HK Nicaragua Canal Development Investment, is working
with the Nicaraguan government on a $40 billion project that would provide an alternative to the Panama Canal. Nunez said the company will use funds from investors around the world to build the waterway.
said two bills for streamlining the process of building the canal and assessing its environmental impact were presented to lawmakers last week.
The news services said President Daniel Ortega has pushed approval and hopes to submit it to at least an initial vote on Monday, with final approval planned by Thursday.
It said critics want to slow down discussions about the canal and are seeking more information about the proposed developers. - Chris Dupin