Chinese company says Nicaragua canal will create 25,000 local jobs
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Chinese company says Nicaragua canal will create 25,000 local jobs

The Chinese company granted a concession to build and operate a $50 billion transoceanic canal across Nicaragua says the project will create jobs for 25,000 Nicaraguans and 25,000 more for foreigners.

HKND Group says in a report on its website that half of the latter would be for Chinese workers and the rest for other nationalities.

Estimates of 50,000 jobs directly related to the canal have been around for months, but officials had not broken down how many would be for Nicaraguans.

Read more: Groundbreaking begins on Nicaragua canal

The Nicaraguan government hopes the project will stimulate a sluggish economy and reduce unemployment running over 40 percent. The planned canal has been criticized by the political opposition, environmentalists and villagers who could be displaced.

HKND also predicts the canal will be finished in early 2020.