China Funding Nicaraguan Canal

On December 22, 2014, Chinese businessman, Wang Jing Company, spent 50 billion USD on establishing the Nicaragua canal in Southern Nicaraguan town of Rivas.The first investment of the project is valued near 1 billion RMB.The length of the canal will be 280 km and is expected to provide over 50,000 jobs during the construction period and 200,000 jobs when in operation. Nicaragua is expected to handle nearly 5% of all global ocean shipments.