In June, it was announced that the proposed Nicaragua Canal linking the Pacific and Atlantic oceans would be contracted to HK Nicaragua Canal Development Investment Co. — a firm registered in the Cayman Islands, headquartered in Hong Kong and owned by Chinese businessman Wang Jing — which would be responsible for designing, building and managing the project for 50 years. The scheme will include an oil pipeline, “dry-canal” freight railroad, two deep-water ports, two international airports and a series of free-trade zones. Nicaragua is one of the poorest countries in Latin America and its government hopes that the project, which would be twice the length of the Panama Canal, could single-handedly raise GDP by 15%. Engineers first proposed a canal through the country back in the late 19th century, but corruption and inefficiency have long thwarted efforts. China’s state-owned China Railway Construction Corp. is expected to play a leading role after conducting feasibility studies.
Cost: $40 billion