Latest News | National Waterways to Get Rs 50,000-cr Investment in Next 5 Yrs

New Delhi, Jan 10 (PTI) An investment of Rs 50,000 crore will be made to boost infrastructure along national waterways in the next five years, according to an official statement on Friday.

According to the statement, the investment proposals were announced in Inland Waterways Development Council (IWDC) meeting at Kohora in Kaziranga.

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"IWDC bats for major infra upgrade on National Waterways, to invest Rs 50,000 crore in five years," the statement said.

IWDC was organised by the Inland Waterways Authority of India (IWAI), the nodal agency for development of waterways under the Ministry of Ports, Shipping & Waterways (MoPSW).

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According to the statement, a major policy initiative in the form of Riverine Community Development Scheme was mooted at the IWDC meet to improve the socio-economic well-being of coastal communities by developing infrastructure.

Speaking at the event, Ports, Shipping and Waterways Minister Sarbananda Sonowal said 1,000 green vessels will be launched in the next five years to boost green shipping inland waterways.

After the success of Kochi's Water Metro project, it will be expanded to 15 cities of the country, including Guwahati, Sonowal added.

He also said ship repair facilities will be established at more national waterways soon.

According to Sonowal, more than Rs 23,000 crore has been earmarked for New National Waterways Development and Green Shipping initiatives.

IWDC, which was set up in 2023, is an exercise to derive the maximum economic potential out of the inland water bodies.

It requires exceptionally coordinated centre-state relationship, collaborations and cooperation in the spirit of cooperative federalism.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)