AuthorTopic: Large Public Works Projects  (Read 11822 times)

Online RE

  • Administrator
  • Chief Cook & Bottlewasher
  • *****
  • Posts: 34163
    • View Profile
Large Public Works Projects: Nicaragua Canal
« Reply #15 on: August 06, 2014, 10:49:39 PM »
With the BDI at historic lows, obviously a new canal for bigger ships is necessary.  ::)

RE

Step Aside Panama Canal: China To Build Nicaragua Canal, "World's Largest Infrastructure Project Ever"

Submitted by Tyler Durden on 08/06/2014 23:00 -0400

    China
    Crude
    Yuan


A month ago, a Nicaraguan committee approved Chinese billionaire Wang Jing's project to create The Nicaraguan Canal. With a planned capacity to accommodate ships with loaded displacement of 400,000 tons (notably bigger than The Panama Canal), the proposed 278-kilometer-long canal that will run across the Nicaragua isthmus would probably change the landscape of the world's maritime trade.

"The project is the largest infrastructure project ever in the history of man in terms of engineering difficulty, investment scale, workload and its global impact," Wang told reporters, adding that with regard the project's financing, which is around $50 billion, Wang seems quite confident, "If you can deliver, you will find all the world's money at your disposal."

Worried about conservation? Don't be: "We have 100-year concession rights, we will be responsible to ourselves, and we are there to build, not to destroy," explained Wang.

 

 

As China Global Times reports,

    In the mountains and rivers of Central America, work on one of the world's largest infrastructure projects is progressing as planned, driven by Chinese billionaire Wang Jing.

     

    ...

     

    The Nicaragua Canal, which is about four times the length of the Panama Canal, will connect the Atlantic Ocean and the Pacific Ocean upon its completion. The project is estimated to cost $50 billion.

     

    "Our canal lock is 15-meter-thick, hard steel. Imagine its size. [It'll be] the world's largest," the 41-year-old Wang said.

The Nicaragua Canal project is just one of many giant infrastructure projects commenced by Chinese around the world.

    There are at least another five megaprojects that are currently being planned or under construction, including the $32 billion China-Pakistan economic corridor and the $1.7 billion Baltic Pearl Project, according to media reports.

     

    ...

     

    Wang's company secured a 50-year concession for the canal and an extension right of another 50 years.

Panama Canal competitor?

    Wang said the Nicaragua Canal will be able to accommodate ships with a displacement of 400,000 tons.

     

    Wang dismissed speculation that the canal he is building would become a competitor to the Panama Canal.

     

    "The Panama Canal won't fit my clients' ships. After expansion, they can only accommodate ships up to 150,000 tons. But our canal offers an alternative route for those sailing across the Panama Canal," he said.

     

    "The world's leading shipbuilders have already commenced research projects to design and build ships especially for the Nicaragua Canal," Wang said.

     

    Analysts said that currently ships with a displacement of 400,000 tons mainly carry crude and bulk cargo  such as minerals, coal, and grains, but as trade develops, larger ships could be a trend.

Financing the $50 billion?

    "If you can deliver, you will find all the world's money at your disposal," Wang said, adding that he will raise the money through combined measures of cross-shareholding, bank lending and debt issuance.

     

    Wang estimates that his company could collect several billion US dollars worth of tolls on an annual basis, but he urged investors not to lose sight of the bigger picture.

     

    "The canal would bring huge benefits to the world's seaborne trade. It will make large-scale, low-cost, high-efficiency trade possible, unlocking trade demand between the East and the West," Wang said.

     

    "The continuously growing Chinese economy and a rising Latin America underpin a growing global maritime transport volume," Zhang Yongfeng, a Shanghai-based shipping expert, told the Global Times Monday.

Costs?

    For the locals at Nicaragua, a key concern has been the man-made canal's environmental impact, particularly on the Nicaragua Lake, the largest freshwater lake in Central America.

    "We have 100-year concession rights, we will be responsible to ourselves, and we are there to build, not to destroy," Wang said.

*  *  *
Time to print some more Yuan...

*  *  *
Wang concludes... when asked "Does digging a canal in the "backyard of the US" not bug you?"

    "No - Free, prosperous maritime trade benefits everybody, including the US"
SAVE AS MANY AS YOU CAN

Online RE

  • Administrator
  • Chief Cook & Bottlewasher
  • *****
  • Posts: 34163
    • View Profile
Just what we need!  A new Mega-Shity in the Desert!  At least they're not building it on Mars. ::)

RE

https://www.cnbc.com/2018/03/05/saudi-arabia-and-egypt-agree-to-a-10-billion-deal-to-build-a-new-mega-city.html

Global Investing Hot Spots
Saudi Arabia and Egypt agree to a $10 billion deal to build a new mega-city


    Saudi Arabia and Egypt have agreed to create a $10 billion joint fund to develop a mega-city in Egypt's southern Sinai Peninsula.
    The investment deal was announced on Sunday as Saudi Crown Prince Mohammed bin Salman met with Egyptian President Abdel Fattah al-Sisi in Cairo.
    Late last year, Saudi Arabia's government announced it was going to build a $500 billion mega-city called NEOM.

Sam Meredith   | @smeredith19
Published 2 Hours Ago CNBC.com
      
   
      
   
      
   
      
   
      
Saudi Arabia, Egypt announce $10 billion investment deal 
3 Hours Ago | 01:08

Saudi Arabia and Egypt have agreed to create a $10 billion joint fund to develop a mega-city in Egypt's southern Sinai Peninsula, with both countries committing more than 1,000 square kilometers (386 square miles) of land to the new project.

The investment deal was announced on Sunday as Saudi Crown Prince Mohammed bin Salman met with Egyptian President Abdel Fattah al-Sisi in Cairo. It was Bin Salman's first public trip abroad since becoming the heir apparent in 2017.

Saudi Arabia and Egypt, respectively the richest and most populous Arab states, have strengthened their strategic ties since Sisi came to power in 2013.

The deal to build a mega-city comes just three weeks ahead of a presidential election in Egypt, with Sisi looking to secure a second term in office. The vote has sparked international outcry as critics have denounced its apparent lack of democratic merit.

In February, 14 international and Egyptian rights groups published a joint statement, accusing Sisi of having "trampled all over even the minimum requirements for free and fair elections."

The Egyptian leader is widely expected to continue his premiership at the end of the month.
How does this compare to Saudi's NEOM project?

Late last year, Saudi Arabia's government announced it was going to build a $500 billion mega-city called NEOM. The city, which is planned to run on 100 percent renewable energy, is part of a wider project to diversify the kingdom away from its traditional, but volatile, oil-based economy.

The NEOM project is expected to cover 10,230 square miles, linking with both Jordan and Egypt. The Saudi government said industries such as energy and water, biotechnology, food, advanced manufacturing and entertainment would all be priorities in the new city.
Crown Prince and Defense Minister of Saudi Arabia Mohammad bin Salman al-Saud (L) is welcomed by Egyptian President Abdel Fattah al-Sisi (R) at Cairo International Airport in Cairo, Egypt on March 04, 2018.
Bandar Algaloud | Saudi Kingdom Council | Handout/Anadolu Agency | Getty Images
Crown Prince and Defense Minister of Saudi Arabia Mohammad bin Salman al-Saud (L) is welcomed by Egyptian President Abdel Fattah al-Sisi (R) at Cairo International Airport in Cairo, Egypt on March 04, 2018.

Shortly after his three-day visit to Cairo, the Saudi prince is due to head to Britain on Wednesday before visiting the U.S. later in the month.
SAVE AS MANY AS YOU CAN

 

Related Topics

  Subject / Started by Replies Last post
0 Replies
674 Views
Last post February 28, 2015, 11:46:51 PM
by RE
0 Replies
119 Views
Last post July 19, 2017, 08:30:56 PM
by Palloy2
0 Replies
89 Views
Last post May 08, 2018, 07:22:52 PM
by Eddie