Construction of the Nicaragua Grand Canal project is set to begin on December 22.
The canal will stretch 278 kilometers, will vary in width from 230 meters to 520 meters and will be 27.6 meters deep. The canal will be 3.5 times longer than the Panama canal and almost twice as deep.
The $50 billion project, developed by Hong Kong Nicaragua Canal Development Investment Co, is expected to be completed by 2020 and will accommodate large LNG carriers and oil tankers from the U.S. and Venezuela heading toward China.
According to Reuters, Chinese businessman Wang Jin, who is behind the canal plan, has no prior experience developing big infrastructure projects like this one. His company was established in August 2012, prompting some to question whether the project was feasible.