The construction work of the Nicaragua Inter-oceanic Grand Canal begins

Managua, Dec. 22-- HKND Group and the Nicaraguan Canal and Development Project Commission jointly held a reception at La Casa de los Pueblos (the People’s House), that was chaired by Commander Daniel Ortega, President of the Republic of Nicaragua, and Mr. Wang Jing, Chairman and CEO of HKND Group to celebrate the official start of the Nicaragua Interoceanic Grand Canal Project.

The Nicaraguans’ centenary dream of having a canal linking the Pacific and Atlantic Oceans is becoming a reality with the groundbreaking of the Interoceanic Canal.

Prior to this, the national and international honourable guests and media together with 200 Nicaraguan and Chinese construction workers participated and witnessed the groundbreaking ceremony at Tola, a community in the department of Rivas. The highlight at the construction site was the presence of heavy machinery for the rehabilitation of the access road between the Pan-American Highway and the Pacific Coast what will allow transportation of the equipment needed for building the port and the lock of the Interoceanic Canal.

The Nicaragua Interoceanic Grand Canal will have a length of 278 kilometers, of which 105 km will go through the Lake of Nicaragua, with a width ranging from 230 to 520 meters and a depth of 30 meters, and will be one of the largest logistics and commercial transportation projects in the world.

The project has an estimated cost of $50 billion, with a construction period of five years, which will create 50,000 jobs.

For over a century, to build a canal in Nicaragua has been a dream of the nation. Nicaragua has been considered ideal for an interoceanic canal due to its privileged topography, natural waterways, and its geographic location in the center of the Americas. Consequently, given continued growth trends in both trade volumes and ship sizes, a Canal through Nicaragua will be strategically beneficial for world commerce by creating a cost-effective alternative for maritime transportation.

Furthermore the interoceanic canal will be a catalyst for economic growth in the region. By building critical infrastructure and further integrating Nicaragua and Central America into the global economy, the Project will spur significant economic and social development, job generation and it will bring numerous business opportunities for companies around the world.