Canal builder joins Ukraine project
Wang Jing, whose company won the right to build a canal across Nicaragua, has agreed to invest in the construction of ports and facilities in Sevastopol, Ukraine, for US$3 billion.
Wang Jing, whose company won the right to build a canal across Nicaragua, has agreed to invest in the construction of ports and facilities in Sevastopol, Ukraine, for US$3 billion.
The first phase of the project would include an economic development zone with high-technology industrial parks, Wang said yesterday during an official visit to Beijing of Ukraine's President Viktor Yanukovych.
The second phase, which requires an additional investment of US$7 billion, will include the construction of a refinery plant, liquefied natural gas production base, airport and shipyard.
BICIM is the holding company of HKND, which won the concession in June to build the crossing in Nicaragua to rival the Panama Canal.
The ports project, which would benefit trade between China and Europe, had won the support of the Chinese and Ukraine governments, said Wang, who held a meeting with Vice-Premier Ma Kai and Yanukovych on the project yesterday.