China Slowdown Not Holding Back Nicaragua Canal, Contractor Says
- Construction of fuel terminal, wharf set to start in August
- HKND is considering debt and equity sales as funding options
A small house used by fishermen stands on the shore near Hacienda Miramar in Rivas, Nicaragua.
Photographer: Susana Gonzalez/BloombergThis article is for subscribers only.
Hong-Kong based HKND Group, contracted to build a $50 billion canal across Nicaragua, expects to start construction on a fuel terminal and a ship wharf as soon as August on the Pacific coast after a year of delays.
The works will be part of a port facility for importing machinery needed for "major works" such as dredging, HKND Group Vice President KW Pang said in an e-mailed response to questions, without specifying when digging would begin. Financing for the 170-mile (274-kilometer) long canal could come from debt and equity sales and a potential IPO, he said.