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Nicaragua awarded a concession in June 2013 to design, build and manage a US$40 billion canal to rival Panama. The canal would cost about four years’ worth of Nicaragua’s annual gross domestic product, and would likely be three times longer than the 48-mile (77-km) Panama Canal, which took a decade to build.
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Nicaragua awarded a concession in June 2013 to design, build and manage a US$40 billion canal to rival Panama. The canal would cost about four years’ worth of Nicaragua’s annual gross domestic product, and would likely be three times longer than the 48-mile (77-km) Panama Canal, which took a decade to build.
- A deal signed between the Nicaraguan government and HKND Group includes a clause which would allow parts of the project to be cancelled this year
- But human rights advocates worry President Daniel Ortega’s administration may still push for the project, which aims to rival the Panama Canal
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 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.
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.
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.
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.
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.
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.
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.
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.
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.