There are reports that Chinese billionaire , Wang Jing 's ability to build the $ 50bn interoceanic canal through Nicaragua is at risk , after it emerged that China 's stock market crisis wiped out nearly 85 % of his fortune . Until June , he was worth $ 10.2bn , but this has since slumped to $ 1.1bn , which may affect the ability of his company , HKND , to push ahead with the construction of the 178-mile canal in Nicaragua . “I have no doubt that appropriate financial arrangements will be in place before construction commences,” Bill Wild, HKND’s chief project adviser for the canal, told Bloomberg. However , officials at HKND so far say they are confident it will go ahead and the delay to the start of construction work is due to environmental concerns . The canal , which would be three times longer than its rival in Panama , would " change the pattern of global maritime trade " say reports .
There are reports that Chinese billionaire , Wang Jing 's ability to build the $ 50bn interoceanic canal through Nicaragua is at risk , after it emerged that China 's stock market crisis wiped out nearly 85 % of his fortune . Until June , he was worth $ 10.2bn , but this has since slumped to $ 1.1bn , which may affect the ability of his company , HKND , to push ahead with the construction of the 178-mile canal in Nicaragua . However , officials at HKND so far say they are confident it will go ahead and the delay to the start of construction work is due to environmental concerns . The canal , which would be three times longer than its rival in Panama , would " change the pattern of global maritime trade " say reports .