Nicaragua greenlights canal project

HKND Group to start major work on $50b inter-oceanic project late next year

Nicaragua has given the green light to HKND Group, a privately held Chinese company, to start work on an ambitious $50 billion inter-ocean canal project.

In 2013, the Nicaraguan government awarded the canal project to HKND. The scope of work includes construction and administration of the canal, as well as six associated works for an estimated cost of $50 billion over 50 years. Major work on the 276-kilometer canal, which will connect the Pacific Ocean to the Atlantic Ocean through the Central American country, is expected to start next year.