The Jal Marg Vikas Project (JMVP) on NW-1 is being implemented with the financial and technical support of the World Bank. 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 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.
(iii) Construction of new navigation lock at Farakka at a cost of Rs. 359.19 crore.
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.
This information was given by the Minister of State for Shipping Shri Pon. Radhakrishnan in written reply to a question in Lok Sabha today.