Wang Jing, Chinese tycoon behind Nicaragua Canal, now wants to build satellite communication network

A Beijing businessman behind a controversial project to build Central America's second canal linking the Pacific and Atlantic oceans has unveiled his latest big idea - an ambitious plan to establish a constellation of satellites to provide low-cost mobile communication services to China.

Wang Jing told a press briefing in Beijing yesterday that his company, Xinwei Telecom Enterprise Group, launched a low-earth orbit satellite last month in Inner Mongolia in a joint venture with Tsinghua University.

It makes Xinwei the first private enterprise in the country to invest in the closely guarded space industry, Wang said.

The State Council said on Friday that it would open the mainland's market for telecommunications infrastructure to more private investors, including opening space facilities for civilian uses such as positioning and navigation services.

Wang, 42, attracted attention last year when he announced a plan to build a US$50 billion shipping canal across Nicaragua with a Hong Kong registered company. In response to questions about a possible working relationship with the government, he said he was an ordinary businessman and did not have any state connections.

INFOGRAPHIC: Between two oceans

The latest project is reminiscent of the Iridium satellite venture launched in 1998, which operates 66 satellites.