Lot more than a canal here In a placid lagoon
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Posted On: 07/01/2013 12:37:29 AM
Lot more than a canal here
In a placid lagoon about a mile inland from the Atlantic coast in southeast Nicaragua, the mast of Cornelius Vanderbilt’s dredge boat rises out of the water. The railroad tycoon abandoned it along with his dream of building an interoceanic canal in the 1850s. More than 160 years and several failed plans later, Wang Jing, a 40-year-old Chinese telecommunications billionaire, has emerged as the next mogul to give it a go. Nicaraguan President Daniel Ortega, who fought the U.S.-backed contras in the 1980s, signed a 50-year concession on June 14 that grants Wang’s HK Nicaragua Canal Development Investment Co. (HKND) rights to develop a $40 billion project that includes a canal, an oil pipeline, two deepwater ports, an interoceanic railroad, and two airports.
In a placid lagoon about a mile inland from the Atlantic coast in southeast Nicaragua, the mast of Cornelius Vanderbilt’s dredge boat rises out of the water. The railroad tycoon abandoned it along with his dream of building an interoceanic canal in the 1850s. More than 160 years and several failed plans later, Wang Jing, a 40-year-old Chinese telecommunications billionaire, has emerged as the next mogul to give it a go. Nicaraguan President Daniel Ortega, who fought the U.S.-backed contras in the 1980s, signed a 50-year concession on June 14 that grants Wang’s HK Nicaragua Canal Development Investment Co. (HKND) rights to develop a $40 billion project that includes a canal, an oil pipeline, two deepwater ports, an interoceanic railroad, and two airports.
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