China's HKND Co. said it is delaying the start of construction on a controversial $50 billion inter-ocean canal across Nicaragua until late 2016. China's Hong Kong Nicaragua Development (HKND) Co. obtained approval for environmental studies of the canal earlier this month. But on Wednesday, a company statement said, "The construction of locks and the big excavations will start toward the end of 2016." The company gave no reason for the delay, but said, "The canal's design is currently being fine-tuned."
