Canal may make Nicaragua rich
Source: AFP |
July 2, 2013, Tuesday
|
Print Edition
Print Edition
A PROPOSED waterway to rival the Panama Canal could make Nicaragua the richest country in Central America, a project official was quoted as saying on Sunday.
President Daniel Ortega recently approved the US$40-billion undertaking, granting the concession to little-known Hong Kong-based company HK Nicaragua Canal Development Investment Co, known as the HKND Group.
Under the deal, the company led by Chinese tycoon Wang Jing gets 50 years of exclusive rights to build and operate the canal in exchange for Nicaragua receiving a minority share of the profits.
Now its poorest nation, "Nicaragua will become by far the richest country in Central America ? and that will affect the entire region," the La Paz daily Pagina Siete quoted HKDN spokesman Ronald MacLean Abaroa as saying.
MacLean Abaroa, a former World Bank official from Bolivia, is a former mayor of La Paz and now serves as an adviser to HKND.
"Investment in this project is three to four times the GDP of Nicaragua, there will be an effect of full employment and prosperity," he was quoted as saying.
Environmentalists have warned the project could spark an environmental disaster that threatens drinking water supplies and fragile ecosystems.
MacLean Abaroa has said in the past that the company was considering four possible routes for the waterway, and all would necessarily go across Lake Nicaragua.
The canal plan includes building ports, an airport, pipeline and a railway. A free trade zone is also set to be created. Work should begin in May 2014 after a feasibility study is completed.
President Daniel Ortega recently approved the US$40-billion undertaking, granting the concession to little-known Hong Kong-based company HK Nicaragua Canal Development Investment Co, known as the HKND Group.
Under the deal, the company led by Chinese tycoon Wang Jing gets 50 years of exclusive rights to build and operate the canal in exchange for Nicaragua receiving a minority share of the profits.
Now its poorest nation, "Nicaragua will become by far the richest country in Central America ? and that will affect the entire region," the La Paz daily Pagina Siete quoted HKDN spokesman Ronald MacLean Abaroa as saying.
MacLean Abaroa, a former World Bank official from Bolivia, is a former mayor of La Paz and now serves as an adviser to HKND.
"Investment in this project is three to four times the GDP of Nicaragua, there will be an effect of full employment and prosperity," he was quoted as saying.
Environmentalists have warned the project could spark an environmental disaster that threatens drinking water supplies and fragile ecosystems.
MacLean Abaroa has said in the past that the company was considering four possible routes for the waterway, and all would necessarily go across Lake Nicaragua.
The canal plan includes building ports, an airport, pipeline and a railway. A free trade zone is also set to be created. Work should begin in May 2014 after a feasibility study is completed.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
