EFE: Nicaragua Canal will meet growing global demand for containers
Managua, 06 Nov (EFE).- The national commission of the Nicaragua Grand Canal and HKND Group from Hong Kong, China stressed today the importance of the interoceanic Canal in the light of the global increasing demand for containers, during a presentation at the XIX Conference of Free Trade Zone of the Americas in Managua.
The presentation was given by the spokesman of the national commission of the Nicaragua Interoceanic Grand Canal, Telémaco Talavera; the chief advisor of HKND Group, Bill Wild; and advisor to the Investment and Export Promotion Agency (ProNicaragua), Laureano Ortega.
Talavera said the Nicaragua Grand Canal is viable because various economic and maritime studies have indicated that there is a need in the commercial and maritime world.
He explained that the growth of the developing economies, the growing demand for containers, the efficiency required by companies in operating costs, and the increased vessel size all demand the construction of a new canal.
The speakers emphasized the importance of an alternative route for the world that is wider than the Panama Canal, and highlighted the progress that the Project has made so far.
According to Talavera, the Nicaragua Canal will not compete with the Panama Canal, instead, it will provide an alternative and complementary route, "as it will be able to accommodate larger ships that cannot pass through the Panama Canal".
Regarding the progress, they underlined the recent approval of the Environmental and Social Impact Assessment (ESIA) by the Government of Nicaragua, which will allow HKND Group, concessionaire of the Project, carrying out general designs of the Canal to initiate the works.
Apart from the infrastructure construction for the international trade and tourism, the Project consists of linking the Pacific Ocean with the Caribbean Sea through a waterway, which is 276 kilometres long, 230 to 280 meters wide and 30 meters deep.
According to the calculations by the concessionaire of the Project, HKND Group, it will have a cost of 50 billion dollars.
The XIX Conference of Free Trade Zone of the Americas concluded today, was aimed at the users of free trade zones, representatives of industrial parks and of the customs sector, exporters, freight agencies and customs of the region.
The event brought together around 200 renowned experts and leaders of associations of this sector in order to promote the investment opportunities offered by Latin American in this industry.