What was touted as a rival to the Panama Canal has died again.  So Guatemala is out, Nicaragua is next up to see if the Chinese spend billions of dollars trying to duplicate the Panama Canal.  Ain’t gonna happen folks, Panama has it, it is expanding and will be delivered within two years.

The European Group Eurogas has not been recognized as an investor, even though it was presented as a large one, while the owners of the lands involved are protesting about the money owed to them.

An article in Elperiodico.com.gt reports that “Eurogas Enterprises, announced as the first major investor in the project, has proved to be a fraud. Communities who sold their land to the project complain it’s been almost two years and they still have not received the payments offered by the company. ”

“… The Inter-Oceanic Corridor (Corredor Inter-oceánico) project, which was declared of “national interest” by President Otto Perez last July, has been stuck for three months because of lack of funds. ”

According to Guillermo Catalán España, president of Corredor Interoceánico, “…Eurogas Enterprises, which was presented in July as the first major investor in the project at a special event held at the National Palace of Culture with the President, his ministers, businessmen and diplomats, proved to be a fiasco. ”

“… Although the credibility and future of the Inter-Oceanic Corridor are now in doubt, Catalán is preparing a new strategy for it to succeed: seeking new investors and renegotiating with the landowners “.

Source: elperiodico.com.gt