Nicaragua confirms canal route

After months of back and forth, and much scepticism from both inside and outside the country, Nicaragua appears to have finally confirmed the route of its US$40bn inter-oceanic canal.

A committee comprising government officials, academics and business leaders approved a 172-mile route proposed by executives of the HK Nicaragua Canal Development Investment Co. Ltd (HKND) leading from the mouth of the Brito River on the country’s Pacific Coast to the Punto Gorda River on the Caribbean.

HKND, based in Hong Kong, is headed by Chinese businessman Wang Jing. Jing made his money in the telecoms industry and his lack of experience in infrastructure projects of this kind has attracted criticism from some quarters.