Nicaragua Grants Hong Kong Co Permission to Build Canal Across Country

Photo of author
Written By Henry Dalziel

I've been living and working in Hong Kong since 2016 as an SEO Professional.

Nicaragua has been considering the construction of a canal that would connect the Caribbean Sea and the Pacific Ocean for a very long time. Since the early 1800s, this nation has been conducting research to see whether or not such a venture is possible, and there have been multiple instances in which serious plans have been proposed, most notably under the presidency of José Santos Zelaya in the 1880s. Despite this, the project was never completed for a multitude of reasons, the primary ones being a lack of financing, political unrest, and environmental concerns.The Nicaraguan government gave its approval in June 2013 to a concession agreement with the Hong Kong-based Nicaragua Canal Development Group (HKND Group) to construct and operate a canal that would run the length of the country. It is anticipated that construction will commence in the month of December 2014 and continue for a period of six years. The canal will have a length of roughly 174 miles and will be equipped with two locks, one at each end, to facilitate the raising and lowering of ships. It will be able to accept ships of a greater size thanks to its increased width and depth in comparison to the Panama Canal.The Nicaraguan government has been marketing the project as a big economic boon for the country, claiming that it will create tens of thousands of jobs and bring in billions of dollars in income. The government has been touting the project as a major economic boon for the country. However, opponents have voiced a variety of concerns about the project, some of which include the potential for environmental harm, the relocation of indigenous populations, and the fact that a foreign company will be in charge of operating the canal. Given the long history of derailed canal projects in Nicaragua, there is considerable concern over the practicability of the project.
Categories Uncategorized

Leave a Comment