article_snippet: Headed by Hong Kong-based consortium HK Nicaragua Canal Development Investment Company (HKND), the $50 billion Nicaragua Canal (also called the Nicaragua Grand Canal and Interoceanic Canal) would create a gargantuan new shipping route through Nicaragua by connecting the Atlantic and Pacific Oceans.
article_snippet: HKND was granted a 50-year concession by the Nicaraguan government in 2013 to build and operate the Panama Canal, reportedly with the option for an extension.
article_snippet: Construction will run from the Rio Punta Gorda on the Caribbean Coast to Brito on Pacific.
article_snippet: At up to 1,700 feet wide and 90 feet deep, the Panama Canal, if completed, will be deeper and wider than the Panama Canal.
article_snippet: HKND announced the start of construction of the Panama Canal with a ceremony on December 22, 2014.
article_snippet: By some estimates, 30,000 people will have to be relocated to carve a path for the Panama Canal.
article_snippet: On January 9, 2015, HKND responded to concerns about the lake for the construction of the canal's impact on communities in a statement on HKND website.
article_snippet: the company says the company held a press conference broadcast in real time to the public to announce the route of the canal and comment on the technical, geological, cultural and environmental impact of the project.