Nicaragua Climate Politics in Hot Water Over $50 Billion Canal Plan

By Sophie Hares TEPIC, Mexico, Nov 6 (Thomson Reuters Foundation) - Shaking off its climate change "pariah" status alongside the United States and war-torn Syria, Central American nation Nicaragua took the plunge and joined the Paris Agreement to tackle global warming before U.N. climate talks began on Monday. But environmentalists say Nicaragua’s lecturing of big polluters … [Read more...]

China Slowdown Not Holding Back Nicaragua Canal, Contractor Says

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...]

Nicaragua Sticks to $50 Billion Canal Plan as Setbacks Pile Up

By Michael McDonald (Bloomberg) -- Manuel Coronel Kautz isn’t a man who’s easily deterred. Good thing. Because as head of Nicaragua’s Canal Authority, he’s seen the $50 billion, Chinese-backed project suffer setback after setback. The latest: 12 months of construction delays on a key port just as financial turmoil in China deepens speculation the funding won’t come … [Read more...]

Nicaragua Canal Company Says $50 Billion Plan Has Public Backing

By Bloomberg News (Bloomberg) -- The Chinese company seeking to build a $50 billion canal across Nicaragua said the project has broad public support and that it is willing to alter the planned route to avoid a small town. HKND Group, led by billionaire Wang Jing, said surveys show more than 78 percent of Nicaraguans back construction of the 170-mile (275-kilometer) … [Read more...]