 "Govt plans to set up consortium to part-finance inland waterways")
"IWAI has appointed a full-time consultant, who happens to be a former head of a leading Indian banking institution. It has also engaged the services of a senior consultant of International Finance Corporation, World Bank. They are engaged in carving out a proposal for creation of a consortium amid their other assigned functions," said Verma, while addressing a conclave here on Thursday.
"Hopefully, the proposed consortium would evolve into an established entity in the near future, as 101 identified inland waterways alone require an investment of Rs 35,000 crore in next couple of years. IWAI will raise funds through market borrowings and organise arrangements through multilateral agencies to fund the identified inland waterways," he said. "We are planning to make this happen in the next two years. By the next winter session of Parliament, the inland waterways Bill, which has been pending for the last eight years, could be passed. Its earlier enactment would facilitate the proposal of IWAI for tapping market borrowings and organising funds through multilateral agencies," he added.
According to him, feasibility studies for construction of six inland waterways would be completed by October and the detailed project report for them will be accomplished by March 2016. Besides, the authority is pushing harder for allocation of vessel and freight subsidies with its administrative ministry.
Other government institutions are acquiring vessels required for the huge investment to operate on the inland waterways.
Belgium, which has expertise in multimodal transportation, could form alliances with its Indian counterparts to introduce effective multimodal transportation in India, Ambassador of Belgium Jan Luykx said.