As President Ortega prepares to sign the Chinese canal concession into law during a nationally televised event tonight, The Nicaragua Dispatch has learned some interesting details about the project in an exclusive interview with Chinese concessionaire HKND Group. The canal project, according to company spokesman Ronald MacLean-Abaroa, is 100% private and will not involve the Chinese government or any other government. HKND expects that many of the private investors will be Chinese, but so far the only investor underwriting the project is Wang Jing, a mysterious man of undermined wealth who is footing the entire bill by himself, until he can take the project to market in a couple of years. The company claims Wang is assuming 100% risk, and that the project is risk-free for Nicaragua, which through a gradual transfer of ownership will control 51% of the project after 50 years. Read full exclusive interview with Nicaragua Dispatch on Monday.
Posted on: Fri, 14 Jun 2013 23:22:39 +0000