Nicaragua: Inter-Oceanic Canal Project put on hold

Posted on November 30, 2015 • Filed under: China, Economy, Nicaragua reported the world’s biggest canal project – a $50bn inter-oceanic canal through Nicaragua – has been delayed, following an environmental report and a collapse in the fortunes of the Chinese businessman behind the company that planned to build it.

The Hong Kong Nicaragua Development (HKND) Group announced on Wednesday that it would be another year before the start of major works on the proposed rival to the Panama canal.

The company said the “design of the canal is being fine tuned”, in accordance with recommendations contained in an environmental impact assessment. Read Article

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