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Prensa Latina: Nicaragua Approves Studies of Interoceanic Canal 2015-11-7 14:57

Managua, 5 Nov (PL) Today, the Interoceanic Grand Canal Commission of the Government of Nicaragua, gave the approval resolution of the Environmental and Social Impact Assessment of the Canal to HKND Group from Hong Kong, China, the concessionaire of this Project.

"We are precisely authorizing HKND to start the processes of structural design and construction design now,” Manuel Coronel, president of the national authority of the Grand Canal, asserted in statements released by official media.

Telémaco Talavera, member of the Commission, affirmed that in compliance with the established requirements, “the final net balance, from an economic, social and environmental point of view, is highly positive for Nicaragua”.

He stressed the high scientific and technical rigor of the study, and noted that the following studies that still remain to be done are "to determine specific measures" of the designs and environmental aspects that raise the positive social and environmental balance.

Talavera described this day as a historic day for this Central American country.

Referring to that, Bill Wild, Chief Project Advisor of the company, considered that this decision is a major step for the construction of the Project, which, he added, can advance quickly with the support of many sectors of the country.

According to the official data, the waterway will connect the Atlantic and Pacific oceans with a route of 276 kilometers, 105 of which will pass through the Cocibolca or Lake Nicaragua.

From the economic perspective, experts predict that the initiative, valued at a total cost of $50 billion, will double the GDP of this country and generate about 250,000 direct and indirect jobs.

The Project, which also involves the construction of an airport, several roads, a free trade zone, tourist resorts and two ports, will benefit the whole Latin American region.


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