HKND Group (HKND) of Hong Kong claims it has the public backing of Nicaraguans for its plan to build a $50 billion, 275-kilometre waterway for vessels that can’t navigate the Panama Canal, Bloomberg this week reported. HKND said in a statement that 78 percent of Nicaraguans responding to a survey support the plan, which has caused analysts such as Sverre Svenning, a shipping expert at Fearnley Consultants AS, to question if sufficient demand for the waterway exists given the impending completion of Panama’s $5.25 billion expansion project. The Nicaraguan National Assembly in June of this year officially ratified the canal deal.
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