HKND Group Successfully Obtains Exclusive Right to Develop and Manage Nicaragua Grand Canal for 100 Years

On June 13, 2013, the Nicaragua National Assembly ratified an exclusive commercial agreement between the Nicaraguan Government and HK Nicaragua Canal Development Investment Co., Limited (“HKND Group”) to develop the Nicaragua Canal and Development Project. The agreement grants HKND Group the exclusive right to plan, design, construct, and operate and manage the Nicaragua Canal and other potential projects, including port projects, free trade zones, an international airport, and other infrastructure development projects, for up to 100 years.

On June 14, 2013, Chairman Wang Jing and Nicaraguan President Daniel Ortega attended a signing ceremony with members of the local and international media and officially announced the inspiriting and magnificent plan and signing the exclusive commercial agreement to develop the Nicaragua Canal and Development Project. With the potential to enhance regional economic growth in Central America and transform global trade, the Nicaragua Canal and Development Project is expected to have the capacity to handle the world’s largest ships and demand for greater efficiency, lower cost, and increased reliability and safety on important global trade routes, including expected increases in global trade.

Reprinted below is the speech given by Chairman Wang Jing at this signing ceremony.

Distinguished President Daniel Ortega Saavedra, distinguished Communications and Citizens Commission Coordinator Rosario Murillo, distinguished Chairman of Nicaragua Interoceanic Grand Canal Authority Manuel Coronel Kautz and distinguished guests.

Cross-border trade has been a hallmark of international commerce since the discovery of the New World in the 15th Century and the new sea routes to the East. The improvement of ship transport since that time through the development of new technologies, such as the steamboat, has resulted in the rapid development of maritime shipping which forms the cornerstone of this cross-border trade. Nowadays, aggregate maritime trade shipments account for 90% of all international trade shipments. For generations, mankind has relentlessly sought to identify more convenient routes for the maritime trade which can shorten shipment mileage, reduce transportation costs and enhance transportation efficiency and safety. However, the increasing demand by the global shipping industry cannot be met because of historical reasons, geographical conditions and limited engineering techniques. It has become imperative to develop and construct a wider and deeper interoceanic canal to support bigger load weight and generate greater efficiency. Accordingly, the one hundred year old dream of the Nicaraguan people for a Nicaragua grand canal emerges in response to this demand. With the full support from the Government of Nicaragua and the great assistance from friends from all industries and all regions, we are committed to ensure the proper design, construction and operation of the Nicaragua Canal. We will fulfill our duties scrupulously to perform our mission of developing Nicaraguan and Central American regional economy and improving the future of maritime trade between west and east. All our actions will be guided by the principles of respecting sovereignty, protecting environment, benefiting people and spurring economy and undertaken in the spirit of openness, fairness, integrity and transparency.

It is the responsibility of myself and my team to duly organize, execute and operate the Nicaragua canal. We are truly honored to undertake this project and we clearly realize its importance and challenges. Mankind has been undertaking relentless efforts to realize self-transcendence. The essential traits of human nature such as wisdom, courage, perseverance and tolerance come together during the growth of mankind and the development of society, creating more and more opportunities in the world. While there are challenges associated with the project, we will move forward with full confidence. Throughout ancient and modern history, each beginning of a new era and each accomplishment of an epoch-making milestone is a triumph of meeting challenges that inspires us to continuously charge forward. Let us join together in mankind’s never ending call for self-improvement. Let us take responsibility for leading the future and serving the world and make strides towards the success of this project and a better world. We will change the world, making this dream a reality will bring more happiness, more freedom, and more joy to the world.

Thank you!
 

Chairman Wang Jing met with representatives of the Nicaragua government

Chairman Wang Jing met with representatives of the Nicaragua government

 

President Ortega met with representatives of HKND Group

President Ortega met with representatives of HKND Group


 
HKND Group Spokesperson Mr. Ronald MacLean-Abaroa

HKND Group Spokesperson Mr. Ronald MacLean-Abaroa


 
HKND Group Chief Project Advisor Mr. Bill Wild

HKND Group Chief Project Advisor Mr. Bill Wild


 
Mr. Stefan Matzinger of McKinsey & Company

Mr. Stefan Matzinger of McKinsey & Company


 
HKND Group legal advisor Mr. Li Chuan of Kirkland & Ellis International LLP

HKND Group legal advisor Mr. Li Chuan of Kirkland & Ellis International LLP


 
President Daniel Ortega

President Daniel Ortega


 
Chairman Wang Jing

Chairman Wang Jing


 
Chairman Wang Jing and President Daniel Ortega wish the project great success

Chairman Wang Jing and President Daniel Ortega wish the project great success