Wang Jing, the Chinese telecom entrepreneur behind a US$50 billion canal project in Nicaragua, plans to build a US$10 billion deep-water port on Ukraine’s Crimean peninsula, Financial Times reported. Wang announced his latest project during Ukrainian president Viktor Yanukovich’s visit to China this week, who came soliciting desperately needed loans and infrastructure investment from Beijing. The US$3 billion first phase would involve the construction of a deepwater port and reconstruction of a port in Sevastopol. The second US$7 billion phase would include an airport, LNG terminal and shipyard, according to Wang’s company, Beijing Interoceanic Canal Investment Management.
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