$50bn Nicaragua canal delayed as Chinese businessman's fortunes collapse
November 28 , 2015
The $50 billion Nicaragua canal project has been delayed after the Chinese businessman behind it suffered a collapse in his fortunes.
The Hong Kong Nicaragua Development (HKND) Group said work on the interoceanic canal – touted as the world’s biggest such project – would take a year to start. It said the canal’s design was being “fine tuned” following recommendations made in an environmental impact assessment.
British firm Environmental Resources Management said the canal project would have “significant environmental and social impacts”, but these could be minimized.