However, HK Nicaragua does not have the financial ties, the construction contacts, or the management capability to realize the project. (Reporting by Gabriel Stargardter; editing by Gunna Dickson) HK Nicaragua Canal Development Investment Co. Ltd. (HKND Group) is a Hong Kong- based infrastructure development firm with offices in Managua, Nicaragua. The Nicaraguan government has granted a 100 year concession to HK Nicaragua Canal Development (HKND) Investment Company, a Chinese firm to explore development and construction of … But China’s presence is much more ambitious in Nicaragua, where President Daniel Ortega signed a memorandum of understanding in September with the recently created Hong Kong-based HK Nicaragua Canal Development Investment Co to finance and build a canal linking the Caribbean Sea and the Pacific Ocean – a dream long cherished by Managua. The Chinese billionaire who came forward to bankroll the project is Wang Jing, through his Hong Kong-based HKND (HK Nicaragua Canal Development) Group. Subscribe to BNamericas to gain access to projects, contacts and news related to The tender is due to be launched this year, while construction is scheduled to start in 3Q21.Investments will advance private sector-led development in the country, address regional security concernsSubscribe to BNamericas to find news reports, information on projects and contact information relating to thousands of companies that drive business in Latin America. More than a year since it was first announced, the canal project faces widespread skepticism, with questions still open about who will provide financing, how seriously it will affect Lake Nicaragua and how much land will be expropriated for it. Wang Jing, Chairman and Chief Executive of the HK Nicaragua Canal Development Investment Co Ltd (HKND Group), told reporters in Managua that he hoped the listing would take place in the stock market that offered the best conditions. The Chinese company HK Nicaragua Canal Development Investment Co. Ltd. is working with the Nicaraguan government on the canal project, which was announced only last week. In … MANAGUA, Dec 23 (Reuters) - The Hong Kong-based company with a concession to build a $50 billion shipping canal in Nicaragua said on Tuesday it is preparing to launch an initial public offering. Photo: Simon Song But a … To continue reading, subscribe to BNamericas and gain access to projects, contacts and news about Get the contact information of thousands of key executives that drive business in Latin America. Nicaragua’s National Assembly authorized a 100-year concession to the Hong Kong-based HK Nicaragua Canal Development Investment Co. for the development and operation of a new $40 billion canal through the Central American country.
Wang Jing’s HK Nicaragua Canal Development Investment Co. (HKND) surrendered its lease agreement on 18 April for suites on the 18th floor of the prestigious International Finance Centre (IFC), raising questions about the entrepreneur’s finances. The HK Nicaragua Canal Development Investment Co.’s proposal to build a 173-mile canal raise numerous concerns about environmental issues, the danger of earthquakes or volcanic eruptions and how it could be financed, but most of all about its cost, which the company estimates at $40 billion.