HKND Group, a unit of holding company the HK Nicaragua Canal Development Investment, won a concession in June 2013 to design, build and manage a US$40 billion canal in Nicaragua to rival Panama despite having no infrastructure experience.
Observers say switch of diplomatic allegiance from Taipei to Beijing not in the mainland’s interest
A top-level Nicaraguan delegation - headed by the president's son - travelled to mainland China and Hong Kong last week to discuss what could be the world's largest waterway project, the South China Morning Post has learned.
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.
History repeats itself with the signing of the Ortega-Wang Jing Treaty, which alienates Nicaraguan sovereignty to a private company for a century, thus turning Nicaraguans into pawns, yet again, for big interest and the super powerful.
A proposed waterway to rival the Panama Canal could make Nicaragua the richest country in Central America, a project official said. The country recently approved the US$40 billion project, granting the concession to little-known Hong Kong company HKND Group.
The man whose Hong Kong firm plans a canal across Nicaragua to rival the one in Panama admits the project faces many obstacles, but he says US$900 million of feasibility studies will help reduce the risks and ensure success.
Wang Jing, chairman of the Hong Kong-based HKND, which has won a concession to design, build and manage a canal to rival Panama's, was upbeat about the project, despite its huge cost.