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.
Arguing that they are improving the design of the waterway, the Chinese company HKND has announced that works will begin in late 2016.
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.
Wang Jing, the owner of the concession for the great work, may have lost 84% of his personal assets in recent stock market upheavals in China.
While there has never been complete certainty about the realization of the gigantic work which could radically change the development prospects of one of the poorest countries in the hemisphere, news of the serious economic losses suffered by its promoter Wang Jing, tip the balance of opinions on the Grand Canal to the negative side.
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 company HKND Group has submitted to the Commission of the Grand Interoceanic Canal of Nicaragua, a study of social and environmental impacts prepared by the international consulting firm ERM.
El19digital.com reports that:
"The company HKND Group delivered on Sunday night to the Grand Interoceanic Canal Commission of Nicaragua, a social and environmental impact study produced by the firm ERM.
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. "
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.
Promerica Group has proposed to the concessionaire of the project HKND the opening up of bank branches along the Canal and the provision of other financial services during the execution of the work.
The Production Bank, Banpro, is looking to develop a service plan appropriate to the measures and requirements of HKND Group, which would include executive support, differentiated tariffs and especially the installation of branches along the Grand Canal.
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.