Prime Minister fast tracks move on private sector investment in Inland Waterway Transport

Published on January 29, 2012 by News Desk · No Comments

INVC,,

Delhi,,

The Prime Minister has initiated a move to fast track the development and use of Inland Waterways Transport involving the private sector and Public Sector Undertakings. The initiative will harness huge potential of inland waterways in transporting bulk cargo like coal, food grains, fertilizers, project cargo, fly ash, Over Dimensional Cargo and containers at competitive cost for the public and private sector companies. Adequate use of waterways will also ease the burden on rail and road infrastructure.

At a meeting of the inter-ministerial coordination committee Principal Secretary to the Prime Minister informed that a tripartite agreement signed between the National Thermal Power Corporation, Inland Waterways Authority of India and a private developer has led to competitive transportation rates for the NTPC while private sector investment of about Rs 650 crore has been committed. This agreement relates to the Farakka Power Project.