WB AND IWAI TEAM TO FINALIZE THE FORMER’S AID FOR BUXAR TO VARANASI & VARANASI TO ALLAHABAD BARRAGE ON AUGUST 3RD: IWAI CHIEF

WB AND IWAI TEAM TO FINALIZE THE FORMER’S AID FOR BUXAR TO VARANASI & VARANASI TO ALLAHABAD BARRAGE ON AUGUST 3RD: IWAI CHIEF

WB AND IWAI TEAM TO FINALIZE THE FORMER’S AID FOR BUXAR TO VARANASI & VARANASI TO ALLAHABAD BARRAGE ON AUGUST 3RD: IWAI CHIEF

No.PR-77
July 31, 2014
New Delhi

WB AND IWAI TEAM TO FINALIZE THE FORMER’S AID FOR BUXAR TO VARANASI & VARANASI TO ALLAHABAD BARRAGE ON AUGUST 3RD: IWAI CHIEF

The World Bank has come forward to fund construction of two barrages from Buxar to Varanasi and Varanasi to Allahabad with an estimated assistance, ranging from Rs.4,200 crores to Rs.6,000 crores to enable India conclude a proper navigation of cargo and human movements in its national waterways between Allahabad and Haldea, reveals Mr. Amitabh Verma, Chairman, Inland Waterways Authority of India (IWAI), adding that the funding arrangements would extend for a period of six years.

Inaugurating a National Conference on Maritime Infrastructure in India, organized by the PHD Chamber of Commerce and Industry here today, Mr. Verma further stated disclosing, “there are two calculations going on at present to put up the proposed two barrages, one estimates a funding cost at Rs.4,200 crores, the other estimate is for approximately Rs.6,000 crores”. 

The team of the World Bank would be meeting authorities of IWAI and as well as senior functionaries of the government on the 3rd of August to finalize the funding aid here in New Delhi in which the other relevant modalities would also be deliberated upon, said Mr. Verma.

The budget for current fiscal has also provided sufficient allocations for creating infrastructure on national waterways for navigation of goods and services and the World Bank’s part funding to construct the two barrages would facilitate expansion of national waterways, he added.

Mr. Verma also said that a Cabinet note is in the process of finalization in the relevant department of the government in which it would be elucidated that Rs.25,000 crores of money be generated from the government kitty to finance national waterways projects and Rs.80,000 crores garnered from the private sector to accomplish the targets of building national waterways through PPP mode.

Mr. Verma also added that the new government was charged up to put in place modern national waterways and would do its best to notify the national waterways number four and five as early as possible and make an attempt through following proper procedures to create national waterways number six in north eastern part of the country.

Mr. Sudarshan Das Mundhra, Chairman, Roads, Ports & Other Infrastructure Committee of PHD Chamber welcomed the initiatives being taken by the new government to develop the Maritime Agenda which visualizes investments worth US$100 billion in next ten years for upgradation and modernization of India’s maritime infrastructure to bring it on par with the international standards.

Among others who took part in the deliberation included Capt. Ashok Mahapatra, Director, International Maritime Organization and Mr. Saurabh Sanyal, Executive Director of PHD Chamber who proposed that a SAARC navigation grid be constructed not only for movement of cargo but also for purpose of tourism.
ENDS
Koteshwar Prasad Dobhal
Consultant (PR)