New Delhi, Aug 1 (KNN) To support India in developing a proper system for navigation of cargo and movement of people in its national waterways, the World Bank will provide financial support for construction of two barrages from Buxar to Varanasi and Varanasi to Allahabad.
 
“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,” said an official release quoting  Chairman, Inland Waterways Authority of India (IWAI), Amitabh Verma.
 
Verma who inaugurated a National Conference on Maritime Infrastructure in India, organized by the PHD Chamber of Commerce and Industry here yesterday said, “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 from World Bank will meet authorities of IWAI and as well as senior functionaries of the government on August-3, to finalize the funding aid which would be extended for a period of six years.
 
Verma 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.
 
Further, he said 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.
 
The 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, added Verma.
 
Roads, Ports and Other Infrastructure Committee of PHD Chamber Chairman Sudarshan Das Mundhra welcomed the initiatives being taken by the new government to develop the Maritime Agenda which visualizes investments worth USD 100 billion in next ten years for upgradation and modernization of India’s maritime infrastructure to bring it on par with the international standards.
 
During the conference, International Maritime Organization Director Ashok Mahapatra and Executive Director of PHD Chamber Saurabh Sanyal proposed that a SAARC navigation grid be constructed not only for movement of cargo but also for purpose of tourism. (KNN/ST)