Why in the news ?

• The Cabinet Committee on Economic Affairs approved the more than Rs. 5,369 crore Jal Marg Vikas Project for development of fairway on National Waterway-1 with the technical and investment support of the World Bank.

More on news

• The waterway1 will go through ganga river and  will extend over Uttar Pradesh, Bihar, Jharkhand and West Bengal. It will cover major districts, including Varanasi, Ghazipur, Vaishali, Patna, Begusarai, Musrhidabad, Pakur, Hoogly and Kolkata, according to an official statement.
• The project, which is expected to be completed by March 2023, will provide alternative mode of transport that will be environment friendly and cost effective, the government said, adding that the project would contribute in bringing down the logistics cost in the country while providing a boost to infrastructure development.

Employment generation

• According to the government statistics, NW-1 development and operations will lead to direct employment generation to the tune of 46,000 and indirect employment of 84,000 will be generated by vessel construction industry
• The project will include construction of multi-modal terminals at Varanasi, Sahibganj, Haldia, Kalughat, Ghazipur and Farakka, five pairs of roll-on roll-off terminals, integrated ship repair and maintenance complexes, bank protection works, and provision of navigation aids.

PPP Model

• Private sector participation under PPP mode would be Rs. 301 crore.

Source

The hindu.