HKND will place the locks 14km inland, according to state-run El 19 Digital.
It will also build a separate reservoir for the new waterway to avoid using water from Lake Nicaragua.
HKND, which is led by telecoms billionaire Wang Jing, is leading the project at a cost of at least $40bn.
Forest along the canal route is “severely deteriorated,” HKND executive vice-president Kwok Pang said.
Further studies will be undertaken to include seismic risk, acid rock drainage and sedimentation of Lake Nicaragua.
