By Michael McDonald (Bloomberg) -- Hong-Kong based HKND Group, contracted to build a $50 billion canal across Nicaragua, expects to start construction on a fuel terminal and a ship wharf as soon as August on the Pacific coast after a year of delays. The works will be part of a port facility for importing machinery needed for "major works" such as dredging, HKND Group Vice … [Read more...]
Doubts Deepen Over China-backed Nicaragua Canal
By Gabriel Stargardter MANAGUA, Dec 26 (Reuters) - When one of the poorest countries in the Americas and a little-known Chinese businessman said they planned to undertake one of the biggest engineering projects in history, few people took them seriously. A year and a half after the $50 billion project to build a canal across Nicaragua was launched by President Daniel … [Read more...]
Nicaragua Canal Construction to Begin in December, Committee Says
MANAGUA, Nov 20 (Reuters) - Construction of Nicaragua's $50 billion Interoceanic Grand Canal, expected to rival the Panama Canal, will begin Dec. 22 after feasibility studies have been approved, the committee overseeing the project said on Thursday. The route suggested for the 172-mile (278-km) canal, which would be longer, deeper and wider than the Panama Canal, was … [Read more...]
Shipping Industry Reveals Skepticism Over Nicaragua Canal Project
By Rainbow Nelson in Cartagena Nicaragua’s ambitious plans to build a rival to the Panama Canal are likely to cost almost double the estimated $40bn, according to experts at the TOC Americas conference in Cartagena. “From my early estimates, I think it would be more likely to cost between $65bn and $70bn,” said Rodolfo Sabonge, founder of Logitrans Advisory Services and … [Read more...]
Chinese Investor Behind Proposed Nicaraguan Canal Announces $3 Billion Ukraine Port Project
By Adam Rose and Pavel Polityuk BEIJING/KIEV , Dec 5 (Reuters) - Wang Jing, a little known Chinese investor who has a concession to build a waterway in Nicaragua to rival the Panama Canal, announced he was also spearheading a $3 billion project to build a deepwater port in Ukraine. "The strategic and cooperative partnership between China and Ukraine has moved a step … [Read more...]