UAE shows interest in Nicaraguan canal project

[Judi Lynn]

UAE shows interest in Nicaraguan canal project
Tuesday, 06 October 2009

The UAE is interested in participating in a project to build a canal across Nicaragua linking the Atlantic and Pacific oceans, the Gulf state's foreign minister said Tuesday.

"We are looking for various means of cooperation" and "of being part of the initiative to unite two oceans with a canal," said Prince Abdullah Zayed Al Nayan after meeting with President Daniel Ortega late Monday.

Ortega made a detailed presentation to the UAE delegation about the potential for outside investment in energy, ports and infrastructure, including the canal project, which China and Venezuela have expressed interest in.

"I am here with a team who has been well chosen and that represents the government and the private sector, many of them from very important firms," Zayed Al Nayan said.

"I think they are going to be very interested in reviewing this proposal" for an inter-oceanic canal, he said.

More:
http://www.arabianbusiness.com/569629-uae-expresses-interest-in-nicaraguan-canal-idea

[Braulio]

1. Sounds weird

The Persian gulf supplies most of the oil for the Far East market. They wouldn't be too keen on having oil flow from the Atlantic to the Pacific, say to the California market and Japan, because it would drive their prices down. I think the UAE is just trying to sniff out if this canal deal will go through or not.