The mysterious Chinese telecoms entrepreneur behind a long-shot proposal to build a canal across Nicaragua has waded into Ukraine’s political crisis, unveiling a $10bn project to build a deepwater port on the Crimean Peninsula.
Wang Jing announced his latest project during the visit to China of Ukrainian president Viktor Yanukovich, who left a capital besieged by protesters to solicit desperately needed loans and infrastructure investment from Beijing.
The $3bn first phase would involve the construction of a deepwater port and reconstruct the sea port of Sevastopol, according to materials provided by Beijing Interoceanic Canal Investment Management Co, Mr Wang’s company. A second, $7bn phase would include an airport, LNG terminal and shipyard. Sevastopol is home to both the Russian and Ukrainian Black Sea fleets.