Feasibility study for Nicaragua Canal project delivered

A much-anticipated feasibility study of the proposed US$50 billion Nicaragua Canal project has just been delivered, but no detail has yet been released.

All that has been reported are what Telemaco Talavera, a spokesman for the Nicaraguan government Canal Commission, said: “In summary, environmental resources management (ERM) says that the project offers potential benefits for the environment and the people of Nicaragua.”

While the results of the scheme are intended to provide the Nicaraguan government and canal developers Hong Kong Nicaragua Canal Development (HKND) with guidance on how to proceed, there is still concern with issues relating to funding.

The Panama Canal authority, for example, recently said that the Nicaragua Canal will not receive any funding from China, as Chinese builders have not shown any interest in the project.

Also, it has been pointed out that the HKND group has already approached the EU in the hope of finding financial support and also for political backing. But no EU response has yet been reported.

As for concerns amongst the world’s ‘greenies’, environmental scientists have condemned the proposed canal, which they said could have fatal consequences for many species of plant and marine life.

The US Embassy has also accused the Nicaraguan government and HKND of a lack of information and transparency surrounding the project.