New Advisors for Nicaragua's Interoceanic Canal Project

HKND Group has announced the hiring of two global advisors for “the various feasibility studies and the route selection process” of Nicaragua’s interoceanic canal project, according to a company release.

“We will be using the specialized consulting services” of SBE, a Belgium-based, civil engineering firm and MEC Mining, an Australia-based engineering consultancy, to “support the work being done by China Railway Construction Corp. Ltd. (CRCC),” says HKND Group Chairman Wang Jing.

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Nicaragua, last June, awarded exclusive commercial rights of the project to HKND, the wholly-owned subsidiary of Hong Kong-based HK Nicaragua Canal Development Investment. That was under the legislature’s approval of The Nicaragua Canal Authority, or Law 800.

Skepticism has been expressed over HKND, which is incorporated in the Cayman Islands, backing the project. China and Latin America program director of Inter-American Dialogue Margaret Myers asks “Why Wang Jing?” Bloomberg Businessweek reported. “He has no experience in canals or large infrastructure projects. He is a telecommunications guy in China.”

Source: HKND Group. Read More »