China Billionaire to Build Canal Across Nicaragua to Rival Panama Canal

In the mountains and rivers of Central America, work on one of the world’s largest infrastructure projects is progressing as planned, driven by Chinese billionaire Wang Jing.

With a planned capacity to accommodate ships with loaded displacement of 400,000 tons, the proposed 278-kilometer-long canal that will run across the Nicaragua isthmus would probably change the landscape of the world’s maritime trade, Wang, the billionaire behind the project, told the Global Times.

“The project is the largest infrastructure project ever in the history of man in terms of engineering difficulty, investment scale, workload and its global impact,” Wang, chairman and CEO of the HK Nicaragua Canal Development Investment Co (HKND Group), told Global Times reporters in an exclusive interview on Thursday.

The Nicaragua Canal, which is about four times the length of the Panama Canal, will connect the Atlantic Ocean and the Pacific Ocean upon its completion. The project is estimated to cost $50 billion. 

“Our canal lock is 15-meter-thick, hard steel. Imagine its size. [It’ll be] the world’s largest,” the 41-year-old Wang said.

The Nicaragua Canal project is just one of many giant infrastructure projects commenced by Chinese around the world. 

There are at least another five megaprojects that are currently being planned or under construction, including the $32 billion China-Pakistan economic corridor and the $1.7 billion Baltic Pearl Project, according to media reports. 

On July 7, a Nicaraguan committee approved the route of the canal, avoiding proposed routes that pass regions under border disputes.

“Now it is pending environmental and social impacts studies, which will lead to some changes, but the big picture is set up and the canal will be completed by 2019,” Wang said.

Wang’s company secured a 50-year concession for the canal and an extension right of another 50 years. 
In the mountains and rivers of Central America, work on one of the world’s largest infrastructure projects is progressing as planned, driven by Chinese billionaire Wang Jing.

With a planned capacity to accommodate ships with loaded displacement of 400,000 tons, the proposed 278-kilometer-long canal that will run across the Nicaragua isthmus would probably change the landscape of the world’s maritime trade, Wang, the billionaire behind the project, told the Global Times.

“The project is the largest infrastructure project ever in the history of man in terms of engineering difficulty, investment scale, workload and its global impact,” Wang, chairman and CEO of the HK Nicaragua Canal Development Investment Co (HKND Group), told Global Times reporters in an exclusive interview on Thursday.

The Nicaragua Canal, which is about four times the length of the Panama Canal, will connect the Atlantic Ocean and the Pacific Ocean upon its completion. The project is estimated to cost $50 billion. 

“Our canal lock is 15-meter-thick, hard steel. Imagine its size. [It’ll be] the world’s largest,” the 41-year-old Wang said.

The Nicaragua Canal project is just one of many giant infrastructure projects commenced by Chinese around the world. 

There are at least another five megaprojects that are currently being planned or under construction, including the $32 billion China-Pakistan economic corridor and the $1.7 billion Baltic Pearl Project, according to media reports. 

On July 7, a Nicaraguan committee approved the route of the canal, avoiding proposed routes that pass regions under border disputes.

“Now it is pending environmental and social impacts studies, which will lead to some changes, but the big picture is set up and the canal will be completed by 2019,” Wang said.

Wang’s company secured a 50-year concession for the canal and an extension right of another 50 years. 

In the mountains and rivers of Central America, work on one of the world’s largest infrastructure projects is progressing as planned, driven by Chinese billionaire Wang Jing.

With a planned capacity to accommodate ships with loaded displacement of 400,000 tons, the proposed 278-kilometer-long canal that will run across the Nicaragua isthmus would probably change the landscape of the world’s maritime trade, Wang, the billionaire behind the project, told the Global Times.

“The project is the largest infrastructure project ever in the history of man in terms of engineering difficulty, investment scale, workload and its global impact,” Wang, chairman and CEO of the HK Nicaragua Canal Development Investment Co (HKND Group), told Global Times reporters in an exclusive interview on Thursday.

The Nicaragua Canal, which is about four times the length of the Panama Canal, will connect the Atlantic Ocean and the Pacific Ocean upon its completion. The project is estimated to cost $50 billion. 

“Our canal lock is 15-meter-thick, hard steel. Imagine its size. [It’ll be] the world’s largest,” the 41-year-old Wang said.

The Nicaragua Canal project is just one of many giant infrastructure projects commenced by Chinese around the world. 

There are at least another five megaprojects that are currently being planned or under construction, including the $32 billion China-Pakistan economic corridor and the $1.7 billion Baltic Pearl Project, according to media reports. 

On July 7, a Nicaraguan committee approved the route of the canal, avoiding proposed routes that pass regions under border disputes.

“Now it is pending environmental and social impacts studies, which will lead to some changes, but the big picture is set up and the canal will be completed by 2019,” Wang said.

Wang’s company secured a 50-year concession for the canal and an extension right of another 50 years.

Source

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