. 24/7 Space News .
SUPERPOWERS
Nicaragua's list of ambitious projects
by Staff Writers
Managua (AFP) May 8, 2016


Over the last decade, Nicaragua has announced four major projects worth a total $57 billion -- nearly five times its gross domestic product.

However, the massive investments from companies in Brazil, China and Venezuela have not come to fruition because of financial problems.

- A canal to rival Panama's -

The headline project is a plan to slice a waterway across the narrow country, building a canal to link the Pacific and Atlantic oceans that would rival the lucrative, century-old one in nearby Panama.

In June 2013, Nicaragua authorized Chinese firm HKND to carry out the work, estimated at a staggering $50 billion, in exchange for a 50-year operating concession renewable for another 50 years.

But while excavation was supposed to begin late last year, the project has been delayed until the end of this year because of environmental studies.

- A huge refinery -

In 2007, Venezuela announced it would build within four years a massive, $6.5 billion refinery and petrochemical plant in Nicaragua able to supply half the needs of Central America.

Nine years later, there is little to show for it except some storage tanks.

Nicaraguan legislative approval came late, in 2012, and now Venezuela's economy is in ruins.

According to official figures, just $323 has been invested in the project so far, essentially to build the tanks.

- Brazilian hydroelectric plant -

In 2012, Nicaragua's parliament approved a Brazilian-financed hydroelectric plant powered by a dam across the southern Grande river to a cost of $1.1 billion.

Since then, the Nicaraguan government has acknowledged that lack of funds have forced delays.

- Russian projects -

Nicaragua is moving ahead to build ground stations that will form part of GLONASS, a Russian version of GPS. Financed by the Russian space agency, the facilities should be ready this year, the government has said.

The Central American country is also building a vaccine production center with $14 million in Russian financing.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
Learn about the Superpowers of the 21st Century at SpaceWar.com
Learn about nuclear weapons doctrine and defense at SpaceWar.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
SUPERPOWERS
Russia says bolstering forces to counter NATO
Moscow (AFP) May 4, 2016
Russia's defence minister said Wednesday that Moscow will set up three new divisions in the west and south of the country by the end of the year to counter NATO forces close to its border. "The defence ministry is taking a range of measures with the aim of countering the build-up of NATO forces in close proximity to Russia's borders," Sergei Shoigu was quoted as saying by Russian news agen ... read more


SUPERPOWERS
First rocket made ready for launch at Vostochny spaceport

Supernova iron found on the moon

Russia to shift all Lunar launches to Vostochny Cosmodrome

Lunar lava tubes could help pave way for human colony

SUPERPOWERS
Although Boiling, Water Does Shape Martian Terrain

Boiling water may be cause of Martian streaks: study

Airbus DS to build STEM centre at its UK Exomars facility

Opportunity robotic arm camera passes diagnostic test

SUPERPOWERS
US to move more assets into deep space over next 4 years

Simulators give astronauts glimpse of future flights

When technology bites back

Menstruation in spaceflight: Options for astronauts

SUPERPOWERS
China's space technology extraordinary, impressive says Euro Space Center director

China can meet Chile's satellite needs: ambassador

China launches Kunpeng-1B sounding rocket

South China city gears up for satellite tourism

SUPERPOWERS
New landing date for ESA astronaut Tim Peake

Tim Peake goes roving

Russia delays space crew's return to Earth

15 years of Europe on the International Space Station

SUPERPOWERS
SpaceX lands rocket's first stage after space launch

Agreement Signed for Airbus Safran Launchers

SpaceX to launch Japanese satellite early Friday

New small launch vehicles

SUPERPOWERS
Light Echoes Give Clues to Protoplanetary Disk

Three Earth-sized planets

On the Road to Finding Other Earths

Kepler spacecraft recovered and returned to the K2 Mission

SUPERPOWERS
Leonardo-Finmeccanica develops new E-scan radar

Cavitation intensity enhanced using pressure at bubble collapse region

Hybrid nanoantennas offer new platform for ultradense data recording

Squished cells could shape design of synthetic materials









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.