Without revealing how it will be financed, HKND Group has presented a draft design which as well as the canal also includes deepwater ports, a free trade zone, a resort, an airport and an artificial lake.
Amid concerns about the lack of information regarding the source of funds to finance the mega project, the government of Nicaragua and HKND reported that the project, in addition to the construction of the canal, will include the construction of two deepwater ports, a free trade zone, a resort and an airport north of Rivas.
During the IX World Economic Forum on Latin America the new President of Honduras promoted a project without being able to refer to studies carried out for it or the investment amount.
The Central American "Canalitis" disease seems to be widespread among the ruling classes of the region who have no respect for logic or the minimal criteria required for healthy business and investments.
The European Group Eurogas has not been recognised as an investor, eventhough it was presented as a large one, while the owners of the lands involved are protesting about the money owed to them.
An article in Elperiodico.com.gt reports that "Eurogas Enterprises, announced as the first major investor in the project, has proved to be a fraud. Communities who sold their land to the project complain it's been almost two years and they still have not received the payments offered by the company. "
Potential investors say they have the money and the intent to invest, but need basic information and potential projects.
In talks between energy distribution company officials and the National Electric Energy Commission (CNEE) with executives of foreign companies in the sector, a major setback has been indentified: Guatemala does not have essential information regarding the registration of river flows, rain and wind data, or a portfolio of potential projects.
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