COAL INDIA, PARADIP PORT, INLAND WATERWAYS AUTHORITY CONSIDERING INVESTING $1.46 BLN IN WATER CORRIDOR

Coal India, Paradip Port, and the Inland Waterways Authority of India (IWAI) are considering investing up to $1.46 billion in a water corridor project in the eastern part of India.

The project would involve the construction of a 1,600-kilometer water corridor between Paradip Port in Odisha and Haldia Port in West Bengal. The corridor would be used to transport coal and other goods between the two ports.

The project is expected to create around 10,000 jobs during construction and 5,000 jobs once it is operational. It is also expected to boost the economy of the eastern region of India.

Background

Coal India is a state-owned coal mining company. Paradip Port is a major port in Odisha. The IWAI is a government agency that is responsible for developing and managing inland waterways in India.

The proposed water corridor would be the first of its kind in India. It would be used to transport coal and other goods between the two ports. The corridor would also help to reduce pollution and congestion on the roads and railways in the eastern region of India.

The Impact of the Investment

The investment in the water corridor is expected to have a significant impact on the economy of the eastern region of India. The project is expected to create around 10,000 jobs during construction and 5,000 jobs once it is operational.

The project is also expected to boost the economy of the eastern region by reducing transportation costs and improving connectivity. The corridor would also help to reduce pollution and congestion on the roads and railways in the region.

The Outlook

The outlook for the water corridor project is positive. The project has the support of the government of India and the private sector. The project is also expected to be financially viable.

The project is expected to be completed in three phases. The first phase is expected to be completed by 2025, the second phase by 2027, and the third phase by 2030.

Conclusion

The proposed water corridor investment by Coal India, Paradip Port, and the IWAI is a significant development. The project is expected to create jobs, boost the economy, and reduce pollution in the eastern region of India. The project is also expected to be financially viable.

Leave a Comment