Honduras seeks Chinese backing for $20bn transoceanic railway

The coast-to-coast railway would make the most of Honduras’ Puerto Cortes, the best natural deep-sea port in Central America (Igor Kiporuk/
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.

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