President: Nicaragua's leader Daniel Ortega is pushing the project through despite opposition

A $50billion canal to be built by a Chinese tycoon in Nicaragua would be deep enough to allow submarines to pass through undetected.

Billionaire Wang Jing has spearheaded what is one of the biggest engineering projects in the world and is three times the size of any other canal, yet shipping forecasters don't anticipate a need for such a route in terms of trading.

Many believe that Wang, who has not disclosed who his investors are, may be backed by the Chinese Government who hope to get a foothold in the continent where business has traditionally been dominated by the US.

And there are concerns that the canal, which would be 26metres deep, would be large enough for Chinese submarines to pass from the Pacific to the Atlantic ocean undetected, reports Quartz.

It would be twice the depth of the Panama canal, for which it would be a serious rival and give China an effective route in to the continent and the country itself, which is listed as one of the potential states that could be the next low-cost manufacturing power house as China's economy grows and moves into new sectors.

It's believed that Wang, who is one of China's richest men after making his fortune in a government telecoms company that went private, wants the canal to be at the center of a network of ports, roads, and free trade zones that the billionaire also plans on building.

This is a more credible explanation given that Wang is not known for having particularly close ties to the Chinese leadership and many state-owned company's are steering clear of the project because Nicaragua is one of the only country's to recognise Taiwan as a sovereign nation. China still claim to own the island, which has its own Government.

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The deal: President Daniel Ortega (left) and his National Assembly approved giving Beijing-based telecommunications CEO Wang Jing (right) a 100-year renewable concession to build a canal in June

High hopes: Oscar Torres, a 62-year-old retired construction worker takes photos of a banner showing a map of Nicaragua with possible routes of the Inter-Oceanic canal

The project has been the subject of much controversy which has been buried by President Daniel Ortega, who recently passed a bill to change the constitution so he can continue to be the nation's leader for his whole lifetime.

It's estimated that around 100,000 Nicaraguans have been forced to relocate from land to be used for the canal and protests led to dozens being injured by police and there were even reports of two dead protesters, reports Foreign Policy. Police deny these claims.

The environmental impact could be catastrophic. The canal would cut through Lake Nicaragua, the largest fresh water body in Central America, which is an area of rich biodiversity and a vital habitat for many rare birds and fish. But the dredging that would be required to build the canal could transfer it into a 'dead zone'.

President Ortega signed a deal that gave the project concessions for 100 years and work has already started on the canal, due to be completed in 2019. The vote went through without debate, public consultation, or feasibility/environmental impact studies and since the recent constitutional change, it's believed that Ortega will hold power for many years.