Further north in Nicaragua, a little-known Chinese businessman has vowed to build a $50 billion canal across the country to rival Panama's, although some industry experts are deeply sceptical, pointing to the high costs, environmental challenges and the firm's lack of experience in such projects.
"The most difficult thing I see (in Nicaragua canal), is to complete it in five years. The technology exists. I think the costs they (Chinese company) have estimated are under-calculated. Rather than $50 billion, I see it more like $70 billion, based on our recent experience. We see they will to move some 5,000 to 5,500 million cubic metres of dry land and dredging. At the Panama Canal, we have taken care of 548 million cubic metres in 134 years," Quijano said.