Honduras seeks Chinese backing for $20bn transoceanic railway
11 July 2023The Honduran government last week informed Chinese officials it was looking for investors able to raise up to $20bn for a railway between the Atlantic and Pacific oceans, South China Morning Post reports.
The Honduran government last week informed Chinese officials it was looking for investors able to raise up to $20bn for a railway between the Atlantic and Pacific oceans, South China Morning Post reports.
The move comes four months after the Central American country switched diplomatic recognition from Taiwan to the People’s Republic of China. It is now looking to capitalise on the move by attracting Chinese capital into infrastructure development projects.
Fredis Cerrato, the economic development minister, announced the overture to reporters on Friday. He added that the government had been discussing a free trade agreement, as well as projects relating to energy generation.
He said: “We presented [Chinese officials] with the projects that Honduras is interested in getting financed, that are vital for the development of our country. We’re talking about building dams, the construction of a transoceanic train that also has to do with our electric generation system.’
He added that the Chinese officials had shown interest in projects developed using both public and private funds.
The minister added that the proposed railway could be ready in about 15 years.
Related
-
Senegal Tenders More Work On National Highway Project
3 May 2024
-
Nigeria to start designing 1,000km north-south highway
3 May 2024
-
Serbian leg of Belgrade-to-Budapest railway to open this year
3 May 2024
-
EAC Hands Over Site For Kenya/Uganda Road Project
2 May 2024
-
OHLA team to build Seville metro line
2 May 2024
-
Chicago Bears announces plans to build $4.2bn stadium
2 May 2024