Nuñez Fabrega Believes The U.S. Will Not Agree With A Canal Through Nicaragua

Saturday, June 22 2013 @ 01:51 pm EDT

Contributed by: Anonymous

Fernando Nuñez, foreign minister of Panama, said during an interview that he believes the United States will not agree with the construction of a canal through Nicaragua, which is going to be built by a Chinese company. He also said there could be some issues due to the constant earthquakes in Nicaragua.

"I don’t see Americans agreeing with the construction of a canal by the Chinese over there,” said Nuñez regarding the canal which will compete against the Panama Canal, opened in 1914 as a route between the Atlantic and the Pacific and managed by the United States until 1999.

Nuñez was interviewed during a meeting of the foreign ministers of Mexico, Central America, Dominican Republic and Colombia, on Thursday and Friday in the Mexican city of San Cristobal de las Casas in Chiapas.

"We will wait for the feasibility study. They have not contemplated some technical issues," said Nuñez. "The canal was not built through Panama because Americans like us more, but because we don’t get any earthquakes," he said, and said that if the doors do not hermetically seal after an earthquake, the canal would not work and the project would have to be started all over again.

He also said Nicaragua would need approximately 200 years to cover the investment of 44 billion dollars.

"We covered the debt of 4 billion dollars invested in the Panama Canal in four years," he said. Nuñez said it is evident that "China has a lot of money and its businessmen don’t know what to do with it."

The mega-project has polarized opinions in Nicaragua, and it was awarded to a Chinese company without a public tender in three weeks and with a capital of $64,000, according to the media in Nicaragua.

The company HK Nicaragua Canal Development Investment Company (HKND Group), based in Hong Kong, is chaired by Wang Ji, a Chinese investor, who is almost unknown. (Prensa)

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