Nicaragua plans rival canal route

From BBC News:

Nicaragua has announced plans to build a waterway linking the Pacific and Atlantic that would carry bigger ships than the existing Panama Canal. President Enrique Bolanos said the new route - which would cost $18bn (£9.5bn) and take 12 years to complete - was needed for the rise in world shipping.

If this actually happens, let's hope Nicaragua can manage its profits better than some of its neighbors would — or, in the case of Panama, have.