Russia has announced through its Deputy Foreign Minister Sergey Ryabkov that it is willing to participate in the construction of the Canal of Nicaragua project and is currently developing concrete forms of cooperation in the work given in concession to the Chinese company and Group HKND estimated at $40 billion.

"We, with our Nicaraguan colleagues, who we are expecting at the Economic Forum in St. Petersburg [...] have discussed this issue repeatedly. We are looking for the most appropriate ways in which the Russian side could cooperate in this project," said Novosti, the Russian Deputy Foreign Minister in an interview with RIA. The Minister also chairs the Russian-Nicaraguan intergovernmental commission on scientific-technical and economic cooperation."

"The Nicaragua Canal is a project which will connect the Caribbean Sea with the Pacific Ocean as an alternative to the Panama Canal, but would be wider, given the size of large modern ships. It is estimated that by 2019 the waterway may already have capacity to absorb 416 million tons of cargo, representing 3.9% of total global marine cargo. "

Source: el19digital.com

More on this topic

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July 2014

Germans set the record straight: in order to consider investing in the development of the Grand Canal of Nicaragua, much more information is needed than is currently available.

An article on Elnuevodiario.com.ni reports that "... The German ambassador in Nicaragua, Karl Otto Konig said today that investors from his country need more information in order to assess their future participation in the construction of a canal in the country. "

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Conference on Nicaraguan Inter-Oceanic Canal

August 2013

AmCham Nicaragua has announced that representatives of the company HKND, concessionaire of the project, will hold a conference on August 13.

The activity, organized by the Nicaraguan American Chamber of Commerce (AmCham), will include the participation of HKND Group spokesman Ronald MacLean-Abaroa and Alberto Vega, a representative from Environmental Resources Management (ERN), the firm responsible for the environmental impact studies.

Russia Reconsiders Plans for Nicaraguan Channel

January 2010

Russian authorities announced they must reevaluate the conditions for the construction of an inter-oceanic channel in Nicaragua.

A year ago, Russian president Dimitry Medvedev agreed to analyze the participation of Russia's private and public sectors in the construction of a $18 billion channel linking the Pacific with the Atlantic Ocean through Nicaragua.