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Nicaragua Canal Feasibility Study Delivered

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A highly-anticipated feasibility study of the proposed US$50 billion Nicaragua Canal project has been delivered, with the results of the scheme intended to provide the Nicaraguan government and canal developers HKND with guidance on how to proceed, according to Reuters.

PTI previously reported that there had been much concern with the Nicaragua Canal project, with issues relating to funding.

Telemaco Talavera, a Spokesman of the Nicaraguan government Canal Commission, said: “In summary, ERM [Environmental Resources Management] says that the project offers potential benefits for the environment and the people of Nicaragua.”

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

HKND had previously turned to the EU in a bid to not only find financial support but also for political backing.

On an environmental level, a group of environmental scientists previously said that the proposed canal could have fatal consequences on the environment by threatening extinction upon many species of plant and marine life in the canal.

The US Embassy had also passed on their concerns as to the lack of information and transparency surrounding the project.

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