Government of Nicaragua announces its approval of the ESIA for the Nicaragua Interoceanic Grand Canal Project
On November 5, 2015, the Government of Nicaragua announced its approval of the Environmental and Social Impact Assessment (ESIA) for the Nicaragua Interoceanic Grand Canal Project and issued the “Environmental Permit” for the project, HKND Group said in its press release. This marks a major milestone in the history of the Nicaragua Grand Canal. The construction of the Canal will bring huge benefits to Nicaraguan people as well as meeting the need of international maritime industry for a more economic interoceanic route that can handle the largest ships now being built.
Likewise, this is a day of great significance for the HKND Group. Since HKND was granted the sole concession rights to construct and operate the Canal two years ago, the company’s international professional team has conducted technical and financial feasibility studies, produced a concept design for the project and conducted a comprehensive Environmental and Social Impact Assessment. The ESIA was submitted to the Government of Nicaragua in May this year. A rigorous review by the Government has confirmed the ESIA finding that, subject to HKND meeting a number of agreed mitigations and offset conditions, the Canal will produce a net positive environmental and social impact. This was a primary requirement of the ESIA Terms of Reference and a firm commitment of HKND. HKND takes great pride in this achievement.
The approval ceremony was held in Managua, the capital city of Nicaragua in the morning of November 5. Manuel Colonel Kautz, Chairman of the Nicaragua Canal and Development Project Commission announced that after a vote, the Canal Commission decided to grant HKND Group the Environmental Permit of the Nicaragua Grand Canal Project. Following that, Dr. Paul Oquist, the Executive Secretary of the Canal Commission and the Private Secretary for National Policies to Presidency of Nicaragua handed the environmental permit to the Chief Project Advisor of HKND Group, Bill Wild from Australia.
