The Government of Nicaragua has announced the constitution of a company in Hong Kong in order to raise the necessary capital to build the wet and dry canals projects it has planned.
Friday, September 7, 2012
From an article in Elpueblopresidente.com:
The President, Daniel Ortega, said the Government had signed a memorandum of understanding with a company incorporated in Hong Kong, China, for the construction of the Grand Interoceanic Canal in Nicaragua.
"I want to tell the people of Nicaragua, Nicaraguan families, this afternoon a memorandum of understanding was signed where the Nicaraguan State through the representative of our president of the Panama Canal Authority, authorizes the company HK-Nicaragua to structure, to manage large project financing for the Nicaraguan canal", the president said during a meeting with Wan Jin, president of Xinwei's largest telecom company in China.
Ortega said studies by Dutch specialists are currently underway which will be taken into account for the work by Chinese businessmen.
He explained that the Chinese company called ‘Empresa de Inversiones para el Desarrollo del Gran Canal de Nicaragua ‘ (Investment Company for Development of the Grand Canal of Nicaragua), will work on developing both the both wet and dry canals, which also will link the Pacific with the Atlantic Ocean from Monkey Point to Puerto Corinto .
In eight countries where Xinwei, the company awarded a contract for the construction of the canal, claims to have operations, nobody is aware of its existence.
A report prepared by the Associated Press also notes that in other countries large telecommunications investments were promised by the company but there have been long delays in their execution, including Nicaragua.
Without disclosing details on how the feasibility study will be financed, the government has announced an agreement with the construction company China Harbour to develop a dry inter-oceanic canal.
From a statement from the Presidency of Honduras:
The Government of President Pepe Lobo is preparing Amemorandum of understanding in order to build an Interoceanic Railway.
The Superior Council of Private Enterprise has lodged an partial appeal against the law authorizing a Hong Kong company to build and operate a canal.
Joseph Adam Aguerri, president of the Superior Council of Private Enterprise (Cosep), said that they will go to court to challenge the law passed last Thursday by Congress with the votes by congressmen allied with the Sandinista party (FSLN) led by President Daniel Ortega.
President Ortega has said studies will be started for the construction of a canal linking the Caribbean and the Pacific using the San Juan River and Lake Nicaragua.
The idea of building an interoceanic canal has returned to be floated in Nicaragua, where President Daniel Ortega announced that he will begin studies on this huge and costly project.
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