Dry Canal Revival in Nicaragua?
The Port of Monkey Point could be the first stage in a project that includes an oil pipeline, a coast-to-coast train and the expansion of the Port of Corinto in the Pacific.
Thursday, July 29, 2010
Two South Korean companies signed a memorandum of understanding in July with the country's National Ports Company (EPN) regarding the expansion of the Caribbean Port of Monkey Point. The companies Dongyeong Engineering Consultants & Architecture Co., Ltd and Ox Invstment Finance Co., Ltd. are expected next month in Nicaragua when they will progress financial and technical details.
The Government is welcoming Korean investors in order to hold the first meetings regarding the project.
The Legislative Assembly could pass the bill on the first trimester of 2010.
Nicaragua intends to give concessions for port investments, a theme that will be addressed at the 29th Meeting of Port Companies of the Central American Isthmus, which begins today.
The Nicaraguan inter-oceanic canal company (CINN) has expressed an interest in renewing its involvement in the ‘dry canal’ and port project.
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