Canal deal will 'massively benefit' Nicaraguan economy

A Hong Kong-based adviser for construction of a massive interoceanic canal through Nicaragua said the construction projects would bring "massive economics benefits" to the impoverished country. 

"The Nicaraguan government and people have a very good deal", said Bill Wild, chief project advisor with HKND. "If that project gets built, there'll be no expenditure for [Nicaragua], they don't have to meet any of these upfront costs."

"As part of the construction infrastructure, we are going to be building port facilities, roads, tank farms, accommodation, all sorts of social facilities," he said.

Wild declined to comment on the current legal challenge to the concession submitted to Nicaragua's Supreme Court by indigenous and creole communities, who said they had not been sufficiently consulted before the concession was given to HKND a month ago.

Opposition politicians and environmental groups have also criticised the concession being awarded to the newly established company, arguing that the bidding process had been obscure. They also argued that the company, established in Hong Kong last August, lacked the necessary experience to carry out the project.