Hong Kong group offering finance for Nicaragua canal to tune of $ 30 billion

Nicaragua and a Hong Kong-based company have signed a memorandum of understanding (MOU) on financing $30 billion for construction of an inter-oceanic canal.

The canal would cater to larger ships than the Panama Canal and would be Central America’s second main waterway.

The Nicaraguan Canal would be similar to the Panama Canal and cost $30,000 million.

According to theaustralian.com, this document was signed by Nicaraguan deputy foreign minister and the president of the Grand Interoceanic Canal Authority, Manuel Coronel Kautz, and the head of the HK Nicaragua Development Inversion Company, Wing Jang.

The Nicaraguan government stated that three Dutch companies currently are conducting pre-feasibility studies for the construction of the canal.

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From the Bulletin Panama