Grand Canal of Nicaragua: Start of Works Postponed

Arguing that they are improving the design of the waterway, the Chinese company HKND has announced that works will begin in late 2016.

Friday, November 27, 2015

Although December 2015 had initially been stated as the starting date of the primary works on the canal, such as excavation, the Chinese company has now announced that it will postpone these works until the end of 2016.

AP reports that HKND "... did not provide any reason for the postponement of the work," but said that "the design of the canal is being improved. '"

See also "Grand Canal of Nicaragua: environmental green light".

The delay comes just weeks after the news that Wang Jing, the employer who owns the concession for the great work, has lost 84% of his personal assets in recent stock market upheavals in China. See "Bad news for the Grand Canal of Nicaragua."

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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.

Nicaragua: Changes in Route of Grand Canal

August 2015

The company HKND has announced that it is changing the original design of the work so as not to affect sensitive ecological areas, and to meet the demands of the inhabitants of Thule.

In addition to relocating an entrance of the waterway in Brito, the company HKND is also considering making other changes to avoid affecting ecological areas and populations in the area, who have spoken out against the project.

The Enigmatic Developer of the Grand Canal of Nicaragua

May 2014

The hitherto largely unknown businessman Wang Jing emphasizes mega project's separation from the Chinese government, while announcing agreements with large companies for its construction.

A Reuters article reports that Wang Jing, who heads the Grand Interoceanic Canal of Nicaragua project is ignoring the skepticism about how a little known entrepreneur can run such a huge transcontinental project, while insisting that he is not an agent of the government in Beijing .

Reasoned Optimism Over Nicaragua's Grand Canal

November 2013

The Nicaraguan business delegation that visited China returned with objective grounds for believing in the realization of the project by the company HKND.

An article in Elnuevodiario.com.ni summarizes the opinion of Arturo Cruz, an analyst, diplomat and scholar, and member of the Nicaraguan delegation recently returned from China, where they met the businessman Wang Jing who revealed information on the relationship between him and his company HKND with the Chinese business political system.

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