On July 7, 2014, a 278 km (172.7 mi) route for the Nicaragua Canal was approved by the National Assembly’s Infrastructure Committee of the Nicaraguan government.
This Mega Project will include the following 6 sub projects: Nicaragua Canal (including locks), 2 Ports, a Free Trade Zone, Holiday Resorts, an International Airport and several roads. In addition, there will be construction of a power station, cement factory, steel factory and other related facilities to ensure the successful completion of the Nicaragua Canal.
Nicaraguan President Daniel Ortega and the chairman of HKND Group signed the concession agreement giving HKND Group the rights to construct and manage the Nicaragua Canal and associated projects for 50 years.
Wang Jing, chairman of HKND Group, and President Ortega issued a statement that construction of the $40 billion project would begin in December 2014, and that it will be completed in 2019.
For more information check: www.hknd-group.com/