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Latin American Economy & Business - December 2015 (ISSN 1741-7430)
Nicaragua: Grand Canal faces delay
Latin America’s largest, most ambitious civil engineering project faces at least a year’s delay. Bill Wild, head of the project to build a US$50bn inter-oceanic canal running across Nicaragua, admitted at the end of November that it was running some 11 months behind schedule because approval of the environmental and social impact assessment had only been secured that month, rather than in December 2014. According to the official version presented by the Nicaraguan government and operating company Hong Kong Nicaragua Development (HKND), the delay is no more than a technical hitch, something to be expected on an enterprise of this scale. According to the unofficial version presented by environmental activists and other groups, it highlights major operational and financial difficulties. They believe the project may never be completed.
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