Draft Project of the Grand Canal of Nicaragua

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.

Tuesday, July 8, 2014

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.

The route chosen by the Chinese is called Route 4, presented back in the Bolaños administration, and over which there are doubts because it will be necessary to conduct more feasibility studies.

Telemaco Talavera, president of the National Council of Universities and member of the Grand Canal Committee, told Laprensa.com.ni that "It has not been specified because the specific route of Route Four is part of what will be defined. Route four has a range which will be a product of the environmental and social (...) impact study, that will determine a precise route within the route four"

Regarding the financing, although "... since July last year Wang Jing, the president of the company HKND Group, which owns the concession, is promising to present investors, yesterday it spoke neither about funds nor about who will present them." In this regard, Talavera "... simply said that the work is of global concern and it will not be difficult to get funding."



More on this topic

Grand Canal of Nicaragua: Is There Funding?

December 2015

Its promoters claim that the resources to build it are there, with no more details, but the announcement of the postponement of the start of the mega work following the huge losses suffered by Wang Jing in the chinese stock market, has only increased the doubts.

Doubts about the feasibility of this project have been present since it was first announced, but they now appear to be increasing given the contradictions arising from the information that the project spokespersons themselves have been giving out.

Grand Canal: Ancillary Works for Local Businesses

January 2015

The consortium formed by the Nicaraguan Llansa Ingenieros, NAP Ingenieros y Nicaragua Ingenieros S.A has been subcontracted by HKND for preliminary works.

Elnuevodiario.com.ni reports that "...The works which began on December 22 consist of the construction of five temporary access roads, improving two existing access roads near port Brito and the West Lock proposed for the Canal, the clearing of a strip of 50 meters along the center line of the proposed route for the Canal and auxiliary facilities. "

Grand Canal: Construction of Ancillary Works

January 2015

On December 22 the concessionaire of the Grand Canal in Nicaragua, HKND started preliminary works, including the construction of access roads to the excavation sites and other facilities.

Representatives from the Nicaraguan government and the president of the Chinese company HKND, Wang Jing, inaugurated the start of the project to build the canal, which will start, according to the concessionaire, with the ancillary works which are needed before the main work can be begin.

Start of Construction of the Grand Canal of Nicaragua Announced

November 2014

The Chinese government and the concessionaire HKND have announced that on December 22 work will begin on the project with the construction of secondary roads and ports.  

In the first part of the presentation given by the Chinese company to the government and businessmen, feasibility, environmental, and social studies, for the market and design work were presented.

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