BackWorld Bank to extend $375 mn loan for National Waterway-1 on Ganga
Shipping ministry says financial assistance from World Bank will help develop the Rs5,369-crore NW-1 from Haldia to Varanasi
Premium
New Delhi: The World Bank has approved a loan of $375 million for capacity augmentation of National Waterway-1 (NW-1) on the river Ganga under the Jal Marg Vikas Project (JMVP).
In a statement on Friday, the shipping ministry said the financial assistance from the World Bank would help to develop the ₹ 5,369-crore NW-1 from Haldia to Varanasi. The project will enable commercial navigation of vessels with capacity of 1,500-2,000 deadweight tonnes along a 1,390-km stretch.
NW-1 is a waterway of national significance passing through Uttar Pradesh, Bihar, Jharkhand and West Bengal, serving the cities of Allahabad, Varanasi, Ghazipur, Bhagalpur, Patna, Howrah, Haldia and Kolkata, and their industrial hinterland including several industries located in the Ganga basin. The rail and road corridors in this region are already saturated.
The project entails the construction of terminals and development of ferry services. Inland Waterways Authority of India will set up a River Information Service System (like air-traffic control for airways) on NW-1, the first of its kind in India.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
