World Bank will finance the Haldia-Kashi waterways project.
It has released Rs 300 crore for the initial work of 1,620 km waterways navigation from Haldia, in West Bengal to Varanasi, in Uttar Pradesh.
The total estimated cost of the project is Rs 4,200 crore and World Bank will be financing 50 percent. In addition, it will provide the necessary technical assistance for executing the assignment.
The Inland Waterways Authority of India (IWAI) is the implementing body of the project. It will use the initial capital for preparing project reports. It has invited global tenders from international consultants with respect to preparing project reports.
World Bank is also funding the Indian Railways dedicated freight corridor project.
More Project Info:
Allahabad-Haldia Waterway Project - NW 1