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Chinese Billionaire Says Nicaragua Canal Has Investors

Wang Jing, the Chinese billionaire behind a $40 billion plan to cut a canal through Nicaragua, said he’s successfully attracted global investors for a project that has been on the drawing board for more than 150 years.

Work on the waterway should start by the end of 2014 and be completed within six years, Wang, chairman of Hong Kong-based HKND Group, a privately-held infrastructure development company he wholly owns, said at a press briefing in Beijing yesterday. He didn’t identify any of the investors.