Hong Kong Co. Snags Rights To $40B Nicaragua Canal Project

Law360, New York (June 14, 2013, 6:43 PM EDT) -- Nicaraguan legislators passed a special law Thursday to jump-start a massive $40 billion canal project that will allow large ships to pass through and also granted a Hong Kong company exclusive rights to develop the project, according to two statements.

HK Nicaragua Canal Development Investment Co. Ltd, an affiliate of HKND Group, was granted rights for the planning, design, construction, operation and management of the Nicaragua Canal and potential affiliate projects, such as ports and an international airport, it said. Passage of the special law, however,...
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