Free Newsletters - Space News - Defense Alert - Environment Report - Energy Monitor
. Energy News .




TRADE WARS
Canal could make Nicaragua richest CentrAm country, official says
by Staff Writers
La Paz (AFP) June 30, 2013


A proposed waterway to rival the Panama Canal could make Nicaragua the richest country in Central America, a project official was quoted as saying Sunday.

President Daniel Ortega recently approved the $40-billion undertaking, granting the concession to little-known Hong Kong-based company HK Nicaragua Canal Development Investment Co., known as HKND Group.

Under the deal, the company led by Chinese tycoon Wang Jing gets 50 years of exclusive rights to build and operate the canal in exchange for Nicaragua receiving a minority share of the profits.

Now its poorest nation, "Nicaragua will become by far the richest country in Central America -- and that will affect the entire region," the La Paz daily Pagina Siete quoted HKDN spokesman Ronald MacLean Abaroa as saying.

MacLean Abaroa, a Bolivian former World Bank official, is a former mayor of La Paz and now serves as an advisor to HKND.

"Investment in this project is three to four times the GDP of Nicaragua, there will be an effect of full employment and prosperity," he was quoted as saying.

Environmentalists have warned that the project could spark an environmental disaster that threatens drinking water supplies and fragile ecosystems.

MacLean Abaroa has said in the past that the company was considering four possible routes for the waterway, and all would necessarily go across Lake Nicaragua.

In the lake lies an island with an active volcano and some 300 small islands that serve as breeding grounds for the American crocodile (Crocodylus acutus), the largest reptile living in Central America and the Caribbean.

In Sunday's remarks, MacLean Abaroa said the waterway project could generate resources to deal with environmental problems such as the cleaning up of Lake Nicaragua and deforestation caused by endemic poverty and civil war.

The canal plan includes building ports, an airport, pipeline and a railway. A free trade zone is also set to be created.

The waterway is expected to be wider and deeper than the 82-kilometer (51-mile) Panama Canal.

Work should begin in May 2014 after a feasibility study is completed.

The Panama Canal handles five percent of world trade annually, and has hosted more than one million vessels since it was inaugurated in 1914.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





TRADE WARS
Obama hits out at unfair deals with Africa
Pretoria (AFP) June 29, 2013
US President Barack Obama urged Africans on Saturday to ask more questions about lop-sided deals with some foreign investors, while dismissing talk of a Chinese and US scramble for influence on the continent. During a landmark visit to the continent of his father's birth, Obama said he welcomed renewed interest from larger emerging markets. "I actually welcome the attention that Africa i ... read more


TRADE WARS
Remote Norway islands added to national electric grid after blackout

Outside View: Obama's climate action plan masks hidden agenda

Extreme Energy, Extreme Implications: Interview with Michael Klare

Energy Companies Pull a Blackwater

TRADE WARS
Outside View: Azerbaijan decides Europe's energy security

Jordan seeks energy security with shale oil plant

Philippines, US hold war games near China flashpoint reef

Japan vows to help Philippines amid China sea row

TRADE WARS
Next step on King Island wind power project welcomed

Chile expands wind power resources

Policy issues plague hydropower as wind power backup

Renewable energy use gaining worldwide: IEA

TRADE WARS
SolarCity Introduces Energy Explorer

Largest-in-the-Nation Feed-in Tariff Solar Program Kicks Off

Santerno Solar Skids To Be Installed To The Largest Solar Installation In Vermont

ET Solar Supplied Solar Modules to School Projects in Southern California

TRADE WARS
Japan gets first MOX nuclear shipment since Fukushima

Japan disaster budget given to nuclear operator

Japan gets first MOX nuclear shipment since Fukushima

New radioactive water leak at Fukushima: TEPCO

TRADE WARS
High-octane bacteria could ease pain at the pump

Novel Enzyme from Tiny Gribble Could Prove a Boon for Biofuels Research

A cheaper drive to 'cool' fuels

When green algae run out of air

TRADE WARS
Twilight for Tiangong

China calls for international cooperation in manned space program

Shenzhou 10 Returns Safely To Earth

Home of space dreams

TRADE WARS
Obama says US can lead climate change battle

Australia to forge ahead on climate change?

Climate tug of war disrupting Australian atmospheric circulation patterns

Tunisian woman to be first boss of Green Climate Fund




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement