Centre okays ₹5,369 cr waterway project on Haldia-Kashi stretch

NEW DELHI : The central government on Wednesday approved the Rs 5,369-crore Jal Vikas Marg Project (JVMP) for enhanced navigation on the Haldia-Varanasi stretch of National Waterway-1 (NW-1).

The project falls in Uttar Pradesh, Bihar, Jharkhand and West Bengal. The major districts under its ambit are Varanasi, Ghazipur, Ball ia, Bux ar, Chh apr a, Va is hali, Patna, Begusarai, Khagaria, Munger, Bhagalpur, Sahibganj, Musrhidabad, Pakur, Hooghly and Kolkata.

“The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi has given its approval for implementation of the Jal Marg Vikas Project (JMVP) for capacity augmentation of navigation on NW-1 at a cost of Rs 5,369.18 crore with the technical assistance and investment support of the World Bank,” the ministry of shipping said in a statement.

The project is expected to be completed by March 2023. It will provide an alternative mode of transport that will be environment friendly and cost effective.

The project will contribute in bringing down the logistics cost in the country, the Central government said. It added that it will boost infrastructure development like multi-modal and intermodal terminals, roll on-roll off (Ro-Ro) facilities, ferry services

and navigation aids.

“The NW-1 development and operations will lead to direct employment generation to the tune of 46,000 and indirect employment of 84,000 will be generated by vessel construction industry,” the government statement said. About the funding part, the government said IBRD loan component will be Rs 2,512 crore ($375 million) while the central government counterpart funds will be to the tune of Rs 2,556 crore ($380 million), to be sourced from budgetary allocation and proceeds from bond issue.

Private sector participation under PPP mode would be Rs 301 crore ($45 million).