rss icon Subscribe
desktop mobile

Jal Marg Vikas Project Takes Off in India

Image:  Inland Waterways Authority of India

By Aiswarya Lakshmi

The Jal Marg Vikas Project (JMVP) on National Waterway-1 (NW-1) is being implemented with the financial and technical support of the World Bank.

The Project envisages preparation of Disaster Management Plan (DMP) and Emergency Management Plan (EMP) to take care of activities like navigation, terminal and jetty operation, oil spill, disaster contingency, etc. after the commissioning of the project and while operating cargo and passenger vessels on NW-1.
The Project entails development of fairway with 3 meters depth between Varanasi and Haldia (Phase-I) covering a distance of 1380 km at an estimated cost of Rs. 5369 crore (USD 821 million) with target for completion in six years.
The following sub-projects of this Project have commenced: (i) Construction of Phase - I (A) of the multimodal terminal at Varanasi at a cost of Rs. 169.70 crore. (ii) Construction of Phase - I of the multimodal terminal at Sahibganj at a cost of Rs. 280.90 crore. And (iii) Construction of new navigation lock at Farakka at a cost of Rs. 359.19 crore.
Inland Waterways Authority of India (IWAI) has raised Rs. 340 crore through issue of Government of India fully serviced bonds during 2016-17 for implementation of infrastructure projects on inland waterways including JMVP.
Projects worth Rs.1871.56 crore for development of National Waterways have been implemented till March 2016 from the inception of IWAI in October, 1986. National Waterway-1 (NW-1), NW-2 & NW-3 have been developed for shipping and navigation during this period.

Mar 17, 2017

 

Contracts

Global Ship Lease New Time Charter with CMA CGM

Photo: CMA CGM

Global Ship Lease (GSL), a containership charter owner, announced that it has agreed to a new

Keel Laid for Hapag-Lloyd Cruises Expedition Ship

The next stage of construction for the second of the two new expedition ships for Hapag-Lloyd Cruises has been set in motion with a keel laying ceremony for the HANSEATIC

Furuno DS60 DSL Selected for 200+ USCG Vessels

(Photo: USCG)

Furuno USA, Inc. said it has been awarded a five-year U.S. Coast Guard (USCG) IDIQ contract

Finance

Alpha Bank Securitize Shipping Loans

Logo: Alpha Bank

Greece's Alpha Bank has successfully completed its second financing transaction of $250 million

Scorpio Gets Financing for Kamsarmax Vessel in Japan

Photo: Scorpio Bulkers Inc.

Scorpio Bulkers Inc announced that it has entered into a financing transaction in respect of one

Victor Restis Buys Stake in Globus Maritime

Photo: Globus Maritime Limited

Globus Maritime Limited, a dry bulk shipping company, announced that it has signed a share and

Maritime Apps