Govt to provide US$380M JMVP

The World Bank has signed a US$375 million loan agreement with Department of Economic Affairs (DEA) for the capacity augmentation of National Waterway-1 from Varanasi to Haldia on Ganga River.

Implementor Inland Waterways Authority of India (IWAI) signed a project agreement with the World Bank on 2 Feb 2018.

The Indian Government is provide US$380 million for the US$800 million project through counterpart funds from budgetary allocation and proceeds from the bond issue.

Another US$45 million will come from participants in the Public Private Participation (PPP) mode for implementing the US$800 million project of Jal Marg Vikas Project (JMVP) project.

The JMVP, which is expected to be completed by March, 2023, is being implemented with the financial and technical support of the World Bank. The project will enable commercial navigation of vessels with the capacity of 1500-2,000 tons on NW-I.

Work scope includes development of fairway, Multi-Modal Terminals at Varanasi, Haldia and Sahibganj, strengthening the river navigation system, conservancy works, modern River Information System (RIS), Digital Global Positioning System (DGPS), night navigation facilities, modern methods of channel marking, construction of a new state-of-the-art navigational lock at Farakka etc.

The National Waterway-1 along with proposed Eastern Dedicated Freight Corridor and National Highway-2, constitutes the Eastern Transport Corridor of India connecting the National Capital Region (NCR) with the eastern and north-eastern states and will function as a link to Bangladesh, Myanmar, Thailand, Nepal and other east and south-east Asian countries through the Kolkata Port and Indo-Bangladesh Protocol Route.

The JMVP will result in an environment-friendly, fuel-efficient and cost-effective alternative mode of transportation, especially for bulk goods, hazardous goods and over-dimensional cargo. fii-news.com