Search Result for : Inland Waterways

The Dollar Business Bureau Union Minister of Shipping, Road Transport & Highways and Water Resources, River Development & Ganga Rejuvenation Nitin Gadkari said on Sunday that India and South Korea are set to strengthen their relations in the field of shipping and ports and will sign an agreement that will facilitate Indian seafarers to work on Korean ships. “The undertaking with the Republic of Korea for mutual recognition of Certificate of Competency (CoC) will be beneficial to both the countries as Korea is a large ship owning nation while India is a large seafaring nation with around 1,54,349 Indian seafarers,” the Minister said before leaving for Seoul. Gadkari will be on a four-day official visit to South Korea from April 9, 2018. “This agreement ...

The Dollar Business Bureau India seeks to double the investment from Germany over the coming five years from the present 9.5 billion euros and it also wants a rise of two-fold in the number of German firms in the country, said a former India’s Ambassador to Germany on Tuesday.  In the last few years, India has attracted around 74 German firms that have business ideas worth $1 billion of investment, Gurjit Singh told PTI. Prime Minister Narendra Modi is on a visit to Germany and held discussions with German Chancellor Angela Merkel, and also signed eight pacts. According to the latest news, Merkel was happy to, "develop cooperation with India. That's of huge importance and in no way directed against any other relationships and certainly not against the ...

The Dollar Business Bureau Inida's first waterways project received a financial backing of $375 million from international lender World Bank. The project is meant to create inland waterway for transportation between Haldia and Varanasi, on the 1,360-km stretch of the Ganges river. The loan sanctioned by World Bank covers 45% cost of the project, being undertaken under the Jal Marg Vikas scheme by the Shipping Ministry. The proposed project will facilitate navigation of commercial vessels with a capacity of 1,500-2,000 deadweight tonnage (DWT). Serving the industries on the banks of river Ganga, the new waterway will pass through four states namely Bihar, West Bengal, Jharkhand, and Uttar Pradesh. The industrial cities of Ghazipur, Bhagalpur, Kolkata, Howrah, Patna, Haldia, Allahabad and Varanasi will immensely benefit from this initiative. The development of National Waterway 1 (NW1) will also provide a good ...

The Dollar Business Bureau  Sagarmala, the ambitious project of the government for ‘Port-led development’, will help in cutting down the logistics cost for domestic as well as EXIM cargo, with an estimated overall cost savings of Rs.35,000-40,000 crore per year by 2025. “Sagarmala, the ambitious programme for ‘Port-led development’ in the country, is all set to change the logistics sector performance by optimizing India’s logistics modal mix. The flagship programme by the Ministry of Shipping will help in reducing the logistics cost for both domestic and EXIM cargo with optimised infrastructure investment. An overall cost savings of Rs.35,000 to 40,000 crore per annum by 2025 is estimated from the same,” said an official release. There is considerable potential to move finished products and ...

The Dollar Business Bureau Describing the development of inland waterways as a game changer in national connectivity, Road Transport, Highways and Shipping Minister Nitin Gadkari said on Tuesday that the move will reduce cost of transportation as well as road congestion. Gadkari informed there are just five inland waterways at present and 106 more have been identified by the central government. This would cut the cost of transportation for passengers and goods, reduce congestion on roads and play a crucial role in pollution reduction, he said while addressing a conference organised by the Press Information Bureau in Chandigarh. The Minister further said amphibious buses and hovercrafts would be introduced to increase the use of the inland waterways. Gadkari informed that ports across the world ...

The Dollar Business Bureau The Inland Waterways Authority of India (IWAI) has signed an agreement with M/s DST, Germany to design vessels, suited to navigate the 1620 km stretch of the National Waterways 1, as it looks to provide environment-friendly, safe and economic mode of transportation through this highway. “The objective of IWAI is to go along with nature and disturb the river minimally. The specially-designed vessels will navigate on low drafts and will be of high carrying capacity, and most importantly, will be environment friendly,” the Ministry of Shipping said in a statement. Road Transport, Highways and Shipping Minister Nitin Gadkari has for long been emphasising the need to modernise the existing waterways and cultivate the new ones. IWAI’s collaboration with DST, ...

The Dollar Business Bureau Union Cabinet headed by the Prime Minister Narendra Modi has approved for dissolution of Central Inland Water Transport Corporation Ltd (CIWTC) on Wednesday. The Government of India has incorporated the CIWTC in 1967 under the Companies Act 1956 after the approval of the Calcutta High Court to take over the assets and liabilities of River Steam Navigation Company Ltd. The operations of CIWTC have been unviable because of the inherent limitation and other infrastructure bottle necks. Due to this, the company had been suffering losses right from the beginning, the Ministry of Shipping said in a statement. Voluntary Retirement Scheme for the employees of CIWTC was implemented last year with the decision of the Cabinet on December 24, 2014. Currently, ...

The Dollar Business Bureau Belgium’s Antwerp Port Authority has said that it can offer its expertise to Indian ports to improve their internal waterways. “In India, the ports are not well-connected to the hinterland by inland waterways. In this area, we can offer consultancy services to Indian ports," said Luc Arnouts, Chief Commercial Officer of Antwerp Port Authority, while addressing a press conference on Wednesday in Visakhapatnam. The Ambassador of Belgium to India, Jan Luykx, was also present at the event. “In the area of improving inland waterways, Antwerp Port Authority has gained huge expertise. Antwerp port receives over 30 percent of the cargoes through such type of waterways, where the cost of logistics is cheap,” he added. Arnouts said that a delegation, headed by Ambassador ...