MICROWIKI (CS) | Big dreams have been laid out by the Covanellis Republic to build a 130 square kilometre city, but how it will raise the billions of dollars required remains unclear.
The ambitious plan, laid out by President Bailey McCahon, would see the construction of a city of 20,000 to 100,000 inhabitants in Australia complete with nearly $3 billion of infrastructure to be constructed, including a school, hospital, utilities, and a maglev train to Sydney and Melbourne. This would simply be the start of the project, with McCahon desiring to spend an eventual $50-to-$70 billion to “make the quality of life in Covanellis one of the best in the world … and [to] make the economy largely impermeable [to a] financial crisis.”
All of this, it seems, would be accomplished primarily by the creation of a thriving aquaculture industry in the micronation which would yield anywhere from $5-to-$30 billion in revenue according to the plan. “We would farm the numerous species of aquatic plants, which are widely sought for uses in aquariums, food sources and livestock feed,” said McCahon, noting that such plants are “highly sought after and expensive” in reference to his estimated revenue of $5 USD for one square-inch of Java Moss. Further revenue in support of the plan would be garnered from technological and banking services, as well as the creation of an entertainment industry.
No business plan has been authored to support McCahon’s revenue figures and it is unclear whether Covanellis would be able to corner the global aquaculture market, which is expected to value just under $16 billion by 2019, sufficiently to even meet the lower end of its expectation. McCahon nonetheless hopes to see his plan to fruition for a planned secession timeframe of 2025 to 2030.
Covanellis is the second micronation this year to arrive in the MicroWiki Community with big dreams and no apparent rational financial or legal plan for attaining its desired end result. In May, King Shamus of Madrona boasted that his micronation was in “discussion” with the Canadian government to take over one-third of its territory to create a new nation with a $22 trillion gross domestic product.
In providing the only community feedback on the Covanellis plan, King Shamus was supportive of Covanellis’ plan, but criticized the accuracy of some of its cost figures for the various projects and, with respect to certain projects, characterized some as using unnecessarily complicated methods.