Large construction companies in the Asian country are interested in the mega projects that are to be developed in the region, especially in Panama and Costa Rica.
At the last Capac Expo Hábitat fair in Panama, more than 20 companies from China showcased their progress and took the opportunity to establish contacts with local public and private investors.
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.
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.
During the IX World Economic Forum on Latin America the new President of Honduras promoted a project without being able to refer to studies carried out for it or the investment amount.
The Central American "Canalitis" disease seems to be widespread among the ruling classes of the region who have no respect for logic or the minimal criteria required for healthy business and investments.
The European Group Eurogas has not been recognised as an investor, eventhough it was presented as a large one, while the owners of the lands involved are protesting about the money owed to them.
An article in Elperiodico.com.gt reports that "Eurogas Enterprises, announced as the first major investor in the project, has proved to be a fraud. Communities who sold their land to the project complain it's been almost two years and they still have not received the payments offered by the company. "
From 17 to 18 October 2012 there will be a meeting in Bogota for major infrastructure project developers, investors, employees and service providers.
Colombia is aiming to triple investment in infrastructure in order to modernize roads and railways, and through this optimize the implementation of trade agreements with global economies.
Alberto Alemán Zubieta will present "Road to the Panama Canal Expansion" and Lee McIntire, of CH2M HILL, will examine the role of engineers in solving problems.
A statement from the Panama Canal Authority reads:
For the first time experts will present talks on megaprojects in Panama
Panama City, March 22nd, 2012. -
The presidents of two of the largest construction and project management companies in the world, the director of civil works from the U.S. Army Engineers Corps and the administrator of the Panama Canal, will be keynote speakers at the "International Congress on Engineering and Panama Canal Infrastructure 2012. "
Potential investors say they have the money and the intent to invest, but need basic information and potential projects.
In talks between energy distribution company officials and the National Electric Energy Commission (CNEE) with executives of foreign companies in the sector, a major setback has been indentified: Guatemala does not have essential information regarding the registration of river flows, rain and wind data, or a portfolio of potential projects.
One of the projects would require $221 million to widen the route connecting the capital with the Caribbean port town of Limón.
The proposals were presented to the Chinese Foreign Affairs Minister, Yang Jiechi, by his Costa Rican counterpart, René Castro, with whom he has signed a Technical and Economic Cooperation Agreement.
Francisco Jiménez, Costa Rica's transport minister, told AFP that, "we have invited Chinese companies to invest and the government to collaborate on several projects". This would mark the second stage of cooperation between Costa Rica and Beijing since the countries initiated diplomatic relations.
Panamanian construction businessmen have requested the government to split the contracts for mega-projects, in order to enable the participation of more companies.
Currently, the requirements imposed by the Government for most infrastructure projects are impossible to meet by domestic companies.
Jaime Jované, president of the Panamanian Construction Chamber, asked the government to make such requisites more accessible for local companies and to split the mega projects into smaller contracts.