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Latin America Investment News on Viva Tropical

Nicaragua Struggles to Secure Funding for Mega Pacific Coastal Highway

Article Summary:

A mega project for a main road linking the Pacific beaches of Nicaragua had aroused the interest of Italian and Spanish investors last year, who pledged to present a concrete proposal for the project. Since then, the proposal never arrived and now the government is pinning its hopes on a new Italian delegation from a private enterprise scheduled to visit the country in July.

Photo Credit: Prensa Nicaragua

Original Article Text From Prensa via Google Translate :

Coast Elusive
The proposed road linking the main beaches of the Pacific coast of Nicaragua is not yet concrete.

In October last year, under the Nicaragua-Europe Business Meeting 2011, it was announced that a group of Italian investors would be interested in building the coastal highway and would be the country in January (past), to present a concrete proposal of the project and initiate feasibility studies. However, this did not happen and nothing is clear.

Mario Salinas, chief executive of the Nicaraguan Institute of Tourism (Intur), said that Italian investors “have not yet materialized, but it is in the process of this Italian company return to the country.”

Salinas said that the arrival of the entrepreneurs would be “maybe in the next two months.” Is expected to then officially submitted an offer to the Government of Nicaragua on the options for developing the road.
The coastal road project in the Pacific would not be limited to driveways. Salinas explained late last year, the project includes an entire “axis of development.”

The intention of the Italian investors Salinas said last October, is that the road including parking areas, fueling facilities, food, places to sell crafts, installation of solar power plants for the illumination of the road and surrounding areas, viewpoints and rural tourism projects in nearby farms.

The coastal road project covers 135 kilometers.

Link to Original Article:

From Prensa

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