Wang’s Nicaragua Canal plans on hold

Beijing: Plans by Beijing telecoms tycoon Wang Jing to get underway building the Nicaragua Canal are on hold until at least next year, with local authorities saying no route has yet to be set, amid considerable environmental concerns about the maritime artery.

The $40bn project, headed by the HKND Group, an affiliate of Wang Jing’s who controls telecoms, properties and infrastructure holdings, is aimed at surpassing the widened Panama Canal in handling future larger vessels under the drawing boards of Korean and Chinese ship designers.  [07/01/14]

 

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