Chinese infrastructure group Hong Kong Development and Investment Company (HKND) reported on November 5 that its $50 billion Nicaragua canal project has received an environmental permit from the local government. The project is slated to begin next year.
The proposed canal will be 276 km long, 230 to 520 meters wide, and 30 meters deep, and will connect the Pacific Ocean and Caribbean Sea. HKND’s project also includes the construction of roads, airports, ports, free trade zones, and tourism facilities. When completed, the Nicaragua canal will be a competitor for the Panama Canal.
In 2013, Nicaraguan President Daniel Ortega signed an agreement with HKND to construct the canal. According to the agreement, HKND has the right to build the canal and supporting facilities in Nicaragua for the next 100 years.
On November 5, the local government approved the EIA report submitted by HKND. A government spokesperson said that the final EIA report showed that the project would be positive for the local economy and environment.
Source: inews.qq.com
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Keywords: HKND China Nicaragua Nicaragua Canal
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Is this the project that will destroy the only fresh water lake in the country and deplace many villagers?
Nov 10, 2015 14:24 Report Abuse
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