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WB approves $375 mn loan for India's 1st waterway project

Press Trust of India  |  New Delhi 

The World has approved a loan of USD 375 million (around Rs 2,421 crore) for the ambitious inland waterways project between Haldia in and Varanasi in Uttar Pradesh.

An official statement said that the World has approved the loan of USD 375 million for capacity augmentation of National Waterway-1 (River Ganga) under the Jal Marg Vikas Project (JMVP).

The loan amount is about 45 per cent of the estimated project cost of Rs 5,369 crore.

The 1,390 kilometre waterway project of the shipping ministry would enable commercial navigation of vessels with capacity of 1,500-2,000 deadweight tonnage (DWT).

The waterway will pass through Uttar Pradesh, Bihar, and West Bengal, serving major cities of Allahabad, Varanasi, Ghazipur, Bhagalpur, Patna, Howrah, Haldia and besides the industrial hinterland including several industries located in the Ganga basin.

"The rail and road corridors in this region are heavily saturated. Hence, the development of NW-1 would provide an alternative, viable, economical, efficient and eco-friendly mode of transport," the statement said.

NW-1 will have three multi-modal terminals, one each at Varanasi, Sahibganj (Jharkhand), and Haldia.

There will be two inter-modal terminals at Kalughat and Ghazipur, a navigation lock at Farakka and five Roll on-Roll off (Ro-Ro) terminals.

Ferry services will be developed at Varanasi, Patna, Bhagalpur, Munger, and Haldia besides vessel repair and maintenance facilities.

The project will enable the Inland Waterways Authority of (IWAI) to set-up River Information Service (RIS) System on NW -1 for the first time in

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 21 2017. 21:13 IST