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.
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 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.
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.
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.
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