Nicaragua Canal

Also found in: Wikipedia.

Nicaragua Canal,

proposed waterway between the Atlantic and the Pacific oceans. One often considered route would be 172.8 mi (278 km) long and would generally follow the San Juan River, then go through Lake NicaraguaNicaragua, Lake,
3,089 sq mi (8,001 sq km), c.100 mi (160 km) long and up to 45 mi (72 km) wide, SW Nicaragua; the largest lake of Central America. It is drained into the Caribbean Sea by the San Juan River.
..... Click the link for more information.
 near the southern shore and across the narrow isthmus of Rivas to the Pacific Ocean. First proposed by Henry ClayClay, Henry,
1777–1852, American statesman, b. Hanover co., Va. Early Career

His father died when he was four years old, and Clay's formal schooling was limited to three years.
..... Click the link for more information.
, the U.S. secretary of state in 1826, the route was an important factor in negotiation of the Clayton-Bulwer TreatyClayton-Bulwer Treaty,
concluded (Apr. 19, 1850) at Washington, D.C., between the United States, represented by Secretary of State John M. Clayton, and Great Britain, represented by the British plenipotentiary Sir Henry Bulwer.
..... Click the link for more information.
 (1850). In more recent times the route has been considered as an adjunct to the Panama CanalPanama Canal,
waterway across the Isthmus of Panama, connecting the Atlantic (by way of the Caribbean Sea) and Pacific oceans, built by the United States (1904–14, on territory leased from the republic of Panama) and expanded by Pamana (2007–16).
..... Click the link for more information.
; it would shorten the water distance between New York and San Francisco by nearly 500 mi (805 km).

Under the Bryan-Chamorro Treaty (1916), the United States paid Nicaragua $3 million for an option in perpetuity and free of taxation, including 99-year leases to the Corn Islands and a site for a naval base on the Gulf of Fonseca. Costa Rica protested that Costa Rican rights to the San Juan River were infringed, and El Salvador maintained that the proposed naval base affected both it and Honduras. Both protests were upheld by the Central American Court of Justice. The court rulings were ignored by Nicaragua and the United States. The action was bitterly criticized by Latin Americans and others as an example of U.S. imperialism. A possible route was surveyed in the early 1930s, and a barge canal was proposed later in the decade. In 1970 the Bryan-Chamorro Treaty was rescinded.

In 2013, Nicaragua granted the Hong Kong Nicaragua Canal Development Investment Co. a 50-year concession for the building of the Nicaragua Canal. The company subsequently proposed (2014) a route that would begin at Punta Gorda on Nicaragua's Caribbean coast (more than 40 mi/65 km N of the San Juan River's mouth), cross Lake Nicaragua, and then enter the Pacific at Brito.

References in periodicals archive ?
BMT Group has received a contract from Hong Kong Nicaragua Canal Development Group (HKND) for marine and port assessments along the planned waterway.
Furthermore, another project is proposed to take place: The Nicaragua Canal.
The Nicaragua canal, still ridiculed by some as a farfetched idea, is gaining momentum as Beijing throws political and financial capital behind the project.
The mega project would be built by the Nicaraguan government with the Hong Kong Nicaragua Canal Development Company (HKND) and would exceed the Panama Canal in both size and capacity.
The BBC reports an unconfirmed figure of 15,000 demonstrators who marched in opposition to the construction project by Chinese firm Hong Kong Nicaragua Canal Development (HKND).
He later used his rubber-stamp powers in the AL to award the project--in the form of a lengthy nobid concession known formally as Ley 840--to the untested Chinese firm Hong Kong Nicaragua Canal Development Group (HKND).
Construction will be led by Hong Kong-based HK Nicaragua Canal Development Investment Co.
Construction of the new waterway will be run by Hong Kong-based HK Nicaragua Canal Development Investment (HKND Group), which is controlled by Wang Jing, a little-known Chinese telecom mogul well connected to China's political elite.
Quijano estimated that the Nicaragua Canal construction would reduce by up to 30 per cent the transit of ships through the Panama Canal, because it is closer to the lucrative market in the United States.
By the end of the year work could begin on a rival Nicaragua Canal - backed by Chinese billionaire Wang Jing, below - threatening the monopoly the route has enjoyed for a century.
Later the company's name was disclosed as "HK Nicaragua Canal Development Investment Co.
com/panama-canal-may-be-overshadowed-nicaraguas-plans-build-canal-panama-says-it-not-feasible-1306327) HK Nicaragua Canal Development Investment Co.