Nicaraguan legislators in June approved granting Beijing-based telecommunications CEO Wang Jing a concession to build and operate a canal more than three times the length of Panama’s.
Nicaragua’s government says the construction of the nation’s inter-ocean canal will start a year later than planned because the waterway’s path has yet to be defined.
The president of the canal authority, Manuel Coronel Kautz, says the project will not begin until 2015 because the canal’s route approval comes in the third quarter of this year. Authorities had said construction could begin in 2014.
Kautz told La Prensa newspaper Saturday authorities wanted to wait for feasibility studies to be well advanced.