Chinese billionaire Wang Jing is undertaking a massive project in Nicaragua called The Grand Inter-Oceanic Canal. This project is a new attempt to connect the Atlantic and Pacific ocean through a canal that crosses Nicaragua. It is estimated that the canal would be approximately 172 miles long, and would cost around 50 billion dollars. Wang is the owner of NK Nicaragua Canal Development Investment Co. Ltd, or HKND group, which has stated that the project will take around 5 years to finish but even its supporters believe that this is a extremely optimistic goal. This project has raised many doubts and concerns in Nicaragua. People who are currently living in the path designated to built the canal fear for the safety of their homes and their families. Many farmers claim that the government has disregarded the citizens opinions and concerns by selling part of their country to China. The Chinese government has claimed not to involved in this project, which has made people wonder whether Wang, a single private investor, can cover the costs of this massive project. There are also environmental concerns. The canal will increase marine traffic significantly in Lake Nicaragua, one of the main sources of fresh water in this country, consequently increasing the levels of pollution in this lake.
It is definitely a very ambitious project, which could revolutionize the economy of commerce by challenging the Panama Canal. However, the HKND group has many challenges to face before it can make this project come true and the Nicaraguan government will have to face the opposition of its people, which feel betrayed by this decision.
-Ricardo Morales
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