The Chinese developer says goal is to open waterway by end of 2019.
A ceremony to mark the start of construction of the “Nicaragua Interoceanic Grand Canal” on Monday was followed later this week by violent protests.
During a groundbreaking ceremony on Monday evening, Daniel Ortega, president of Nicaragua, said the project will benefit both his country and the rest of the nation.
Wang Jing, chairman and chief executive officer HKND Group, the Chinese firm that has been granted the right to build the canal, said the waterway would “change the status of maritime trade. “
He said the company has a goal of opening the canal in late 2019.
Reuters said that dozens of people were injured on Wednesday during a clash between police and protesters opposed to construction of the $50 billion canal.
Wang Jing said that in the first quarter of 2015, the tender for the preliminary design of the canal will be performed, and that at the same time, “measurement, design, land acquisition and construction of access roads on the west side of the Canal Project will start.
“At the end of the first quarter of 2015,” he continued, “we will deliver the final and integrated report of environmental impact studies.”
Bidding and excavation of the section of locks between Tule and La Union will be complete by the third quarter, he said. Design and construction of locks in the east and west will be designed and constructed in the fourth quarter.
He pledged that “Chinese companies and Chinese have arrived at this beautiful country to build it and not to destroy or damage it. We vow to respect all the rights and interests of the Nicaraguan people.”
He said “resettlement work will be based on the principles of being equitable, fair, public and transparent.”
Groundbreaking held for Nicaragua Canal
