New Canal To Be Built Across Nicaragua
Lake Nicaragua is the largest lake in Central America.
Credit: Charles Taylor, Shutterstock

A new canal will soon connect the Pacific and Atlantic Oceans through Nicaragua, after a fast approval process by the country's National Assembly.

The governing body granted a Hong-Kong based company a 50-year concession to plan and build the canal, according to USA Today. There are no details yet as to where the canal will run, but according to Wired.com, the canal will take advantage of Lake Nicaragua, the largest lake in Central America. 

Environmentalists are concerned about the plan, which will connect the freshwater Lake Nicaragua to the salty Pacific, potentially harming fish and other freshwater marine life. The economic benefits could be major for Nicaragua, however, with trade through the canal bringing in as much as $1.4 trillion annually by 2030, according to Wired. The canal will be about three times as long as the famous Panama Canal, which was completed in 1914.

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