Nicaragua Canal Project Presented to Private Entrepreneurs

Upon request of the Superior Council of the Private Enterprise (COSEP), a group of top managers and engineers from HKND and ERM recently made a four hour long presentation to more than 200 members of COSEP and the Nicaraguan Council of Small and Medium Enterprises (CONIMIPYME) on the Integrated Development Project of the Grand Canal of Nicaragua.

Senior Engineer Dong Yunsong gave a general description of the Canal Project. After introducing the composition of the global HKND team, the technical expert presented the definition of the selected route and the details of the design plans of the six sub-projects, which include the canal, two ports, roads, a free trade zone, resorts and an international airport.

Finally, he stressed that HKND will develop an eco-friendly Grand Canal, beneficial to the people of Nicaragua. Subsequently, Mr. Alberto Vega of ERM presented initial results of the environmental and social impact studies.

During the Q & A session, Mr. Zhu Xiaoya (Assistant to the President of HKND), Mr. Lu Dong (General Manager of Public Relations Department, HKND) and Professor Pang (Deputy General Manager of Construction Management Department, HKND) answered the questions and concerns of the entrepreneurs about how the project will be funded and when the works will begin.

Also questions were asked about the participation opportunities for local businesses, jobs generation, the impact on the environment and Nicaragua Lake, and the procurement rules for land acquisition and compensation.

HKND reiterated in their responses the principle to be “legal, transparent and fair” and expressed their determination to work together with the people of Nicaragua to create a better future.

During the meeting, Mr. Jose Adan Aguerri, President of COSEP, highlighted that the feasibility study was very expensive, and that he expected it would go much deeper. Talking about the “challenge” for assuring the funds for the work, he added that “once the funding is in place, the private sector companies, SMEs as well as large companies will be looking for more opportunities for participation.”

He closed his speech with the message that private companies need to be prepared.

[mappress]

Press Release, July 24, 2014