HK Nicaragua Canal Development Investment Group, the firm slated to build a controversial US$50 billion canal across the entirety of Nicaragua, has delayed the start of construction until late 2016, The Associated Press reported. Wang Jing, chairman and chief executive of HKND Group who is using his personal fortune to help fund the Nicaraguan challenger to the Panama Canal and potential ecological disaster, has seen his net worth tumble following the equity market slump in China. Wang’s reported net worth had dropped from US$10.2 billion at the peak of the stock market rally in June to only US$1.1 billion in October.
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