http://www.guardian.co.uk/international/story/0,3604,1066567,00.htmlMulti-billion dollar plans to create a rival to the 90-year-old Panama canal by linking a network of rivers and cutting through the jungle of central America are being backed by the goverment of Nicaragua.
The new waterway - being proposed by a public private partnership called the Grand Canal Foundation - will cost an estimated $25bn (£15bn) and take 10 years to build. Its proponents say it would turn Nicaragua into the wealthiest nation in Central America within 20 years.
The rewards for success appear to be considerable. Nearly 15,000 ships use the Panama canal each year carrying 200m tonnes of cargo, earning the country nearly $800m.
Since the Sandinista revolution ended with the 1990 elections, three other canal proposals have been put forward. Two are so-called "dry canals" - high-speed railways designed to carry containers from deep-water ports at either end. Both envisage double-decker trains up to 16 miles long running on a nearly identical route across the country. The cost of the rival plans varies significantly at $1.4bn against $2.6bn. The third proposal is for the Eco-Canal, modestly priced at just $50m, which would make low-impact use of the San Juan river and Lake Nicaragua.