Russia Reconsiders Plans for Nicaraguan Channel

Russian authorities announced they must reevaluate the conditions for the construction of an inter-oceanic channel in Nicaragua.

Monday, January 18, 2010

A year ago, Russian president Dimitry Medvedev agreed to analyze the participation of Russia's private and public sectors in the construction of a $18 billion channel linking the Pacific with the Atlantic Ocean through Nicaragua.

Sergei Aristov, a Russian deputy transportation minister, said: "Considering the financial situation in the world, as well as the beginning of the Panama Canal reconstruction, the given issue needs additional elaboration taking into account the altered economic conditions".

More on this topic

Nicaragua: Brilliant and Enormous Bid by China

June 2013

The delivery of a 100 year concession award for an Inter-oceanic Canal to a company without the capital or experience to carry out a project of this magnitude could be the result of a brilliant long-term operation by the Chinese government.

Editorial

By Jorge Cobas

As a commercial project, the Inter-Oceanic Canal in Nicaragua is economically unfeasible, in particular because the uncertainty over the return on investment to be made is so large. But for a country destined to be a world leader, as is China, for whom $40 billion is a small thing, possession of a dominion over a waterway in the backyard of its greatest commercial competitor makes this investment a bargain.

Russia to build Canal in Nicaragua

September 2008

The Nicaraguan government has announced that Russia is interested in supporting the construction of an inter-oceanic canal in Nicaragua to facilitate maritime trade between the Atlantic and Pacific.

The Russian support will be defined insofar as bilateral relations are developed, indicated government minister, Samuel Santos.

Presidential Support for Inter-Oceanic Corridor in Guatemala

July 2013

Otto Pérez Molina said it is a private project, "in which the State of Guatemala will not invest resources, but will act as supervisor of the processes and of the use of any financial contributions as well as of environmental protection measures ."

The Guatemalan president's remarks could jeopardize the state's responsibility to potential investors in the project, which, so far, has not had its economic and financial viability demonstrated.

Interoceanic Canal ... Also in Honduras

June 2013

Without disclosing details on how the feasibility study will be financed, the government has announced an agreement with the construction company China Harbour to develop a dry inter-oceanic canal.

From a statement from the Presidency of Honduras:

The Government of President Pepe Lobo is preparing Amemorandum of understanding in order to build an Interoceanic Railway.

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