The Central American canal projects continue to generate questions over funding — where it will come from in the case of the proposed Nicaraguan plan, and where it is going in the Panama Canal upgrade.
Protests marred yesterday’s ground-breaking ceremony in Managua for the $50 billion Nicaraguan canal as opposition to the bold Chinese-driven interoceanic project mounted in the Central American nation.
When the Nicaraguan government earlier this month approved plans by a Hong Kong-based company to build a canal linking the Pacific with the Caribbean and thus the Atlantic, observers in the maritime industry were largely left scratching their heads.
A Nicaraguan government committee today approved the route of a proposed $40 billion canal project that will bisect the country and rival the Panama Canal waterway linking the Pacific Ocean and the Caribbean.
The Panama Canal Authority has a contingency plan to fall back on if it cannot resolve its dispute on cost overruns with the engineering consortium that is building its new locks.
The Nicaragua National Assembly has ratified the government’s commercial agreement with HKND Group to develop the Nicaragua Canal and Development Project.
HK Nicaragua Canal Development Investment Co. is working with the Nicaraguan government on an interocean canal project that could rival the Panama Canal, The Washington Post reports.
Nicaragua was recently approved for a $39.2 million loan by the Inter-American Development Bank to improve the efficiency and safety of its transportation system.
The International Air Transport Association urged stakeholders in the Latin American and Caribbean region to work together for safer and more efficient air transportation...
The Panama Canal expansion project will create huge opportunities for countries throughout Latin America, but ports in countries from Argentina to Venezuela have a lot of work to do if they’re to take full advantage of the trade growth that will develop when the enlarged canal opens in 2015.