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Current Affairs

IWAI inks MoU with Indian Oil on fuel needs for national waterways

Date: 27 February 2019 Tags: Services, Industries

Inland Waterways Authority of India (IWAI) has signed Memorandum of Understanding (MoU) with Indian Oil Corporation Limited (IOCL) for jointly developing infrastructure for fuels, lubricating oil, natural gas, LPG etc for meeting the requirement of national waterways. It is expected to lead to development of business activities in energy sector along the national waterways.

Features of MoU

  • It will provide general modalities of mutual cooperation for addressing futuristic demand of any form of energy for Inland Waterways and associated services.
  • It covers development of infrastructure for receipt, storage, dispensing and supply of fuels, lubricating oils, LPF for domestic and commercial use, natural gas and any other related fuel and gas.
  • It also covers infrastructure development for setting up of consumer pump for supplying fuels to vehicles, locomotives, machinery and equipments and retail outlets for fuel and gas at terminals and multimodal terminals.
  • IWAI and IOCL will conduct techno-economic feasibility studies for preparation of detailed land requirement, storage facilities and other supporting infrastructure with details of the cost.
  • These studies will be based on the traffic potential, proximity to the local industries and waterways and its connectivity to rail heads.

Background

106 new national waterways have been declared under National Waterways Act 2016 in addition to the existing 5 national waterways. The development of these new national waterways is being taken up by IWAI (nodal authority) in phased manner based on feasibility reports and DPRs. Besides, capacity of NW1 is also being augmented under Jal Marg Vikas Project (JMVP) with technical and financial assistance of World Bank. Under this project, multimodal terminals are being developed at Haldia, Sahibganj, Varanasi and intermodal terminals are being developed at Ghazipur and Kalughat.