Russian firms want piece of Nicaragua canal action

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Thursday, October 2, 2014

Russian companies are reportedly interested in meeting with Chinese concessionaire HKND to participate in the construction of Nicaragua's US$40bn inter-oceanic canal.

The firms want to learn more about the project and how they can bid in works tenders, the head of investment promotion agency ProNicaragua, Laureano Ortega Murillo, told local paper El Pueblo Presidente.

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Companies from the Netherlands, Denmark, Germany and France have also expressed their interest in the project.

The canal, to be developed and operated by HKND, has met with both domestic and international opposition. At one point, the start of works was postponed to 2015 before the government backtracked and reaffirmed that construction would begin in December this year, as originally planned.

HKND is currently preparing feasibility studies for the 278km canal. Construction is expected to be completed in 2019.

BNamericas will host its 5th South America Infrastructure Summit in Colombia on October 22-23.