Nicaragua canal project threatens Puget Sound ports
Posted in the Minneapolis Forum
#1 Jun 29, 2013
Here’s a new threat to Puget Sound ports: a $40 billion canal through Nicaragua that could steal away import cargo now moving through Washington state.
If it’s actually built, the new canal could compound the heightened competition for cargo the Northwest already is facing from the opening of a widened Panama Canal, probably in 2015. The wider Panama Canal will be able to handle larger ships than the current one.
“A new canal is going to increase competition. Two new canals increase competition even more,” said Port of Seattle Commissioner Bill Bryant.
Observers are skeptical about the Nicaraguan project, given its huge price tag and the fact that very wealthy people, including mogul Cornelius Vanderbilt, have been attempting the feat since the late 19th century.
But Nicaraguan President Daniel Ortega on June 14 signed a 100-year concession with the HK Nicaraguan Canal Development Co.(HKND) owned by Chinese telecommunications tycoon Wang Jing, who is backing the project.
“We will change the world,” Wang said in a statement after signing the contract.
Wang, 40, is chairman of 20 enterprises that operate businesses in 35 countries, including the Xinwei Telecom Enterprise Group in China, according to the HKND Group website.
Bryant said the possible Nicaraguan canal should spur investments in infrastructure in Washington, as ports here are increasingly competing against other ports, including the Port of Prince Rupert, in Canada.
“We already have the customers we need; we need to make investments to keep them,” Bryant said.“Not just within the port, but also outside the port gates – to move cargo to St. Louis and Chicago more quickly than Prince Rupert.”
#2 Jun 29, 2013
So, we're posting pipe dreams & Anti-American projects now ??
Why do you HATE America ???
#3 Jun 29, 2013
I see you don't answer direct questions...
Too bad, you're a too much a coward to answer for your "behavior".
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