Prime minister Modi inaugurated the multi-modal terminal at Varanasi on Nov 12 and received the first container vessel called MV Rabindranath Tagore, post independence on National Waterway-1. The Prime Minister was accompanied by Uttar Pradesh Chief Minister Yogi Adityanath, Union Transport, Highways and Shipping Minister Nitin Gadkari in Varanasi
First vessel that made the journeyCargo belonging to food and beverage company PepsiCo was transported through 16 containers equivalent to 16 truckloads of food and snacks from Kolkata to Varanasi. It became the first company to use inland waterways for container movement. Modi received the cargo transported on inland waterways from Kolkata at the multi-modal terminal in Varanasi. It is the first of the 4 multi-modal terminals being constructed on the waterway.
The significance of National Waterway-1The 1620 km long inland water transport route runs between Haldia in West Bengal and Prayagraj in Uttar Pradesh. The inland waterways is supposed to be a cheaper and more environment-friendly means of transport for large cargo. It has an added advantage due to its location as it passes through Bengal, Bihar, Jharkhand and Uttar Pradesh, serving major cities and their industrial hubs
FundingThe estimated cost of the project is Rs 5,369.18 crore which has been shared between the Indian government and the World Bank on 50:50 ratio.
Management of the projectThe operation and management of the project will be carried out through a Public-Private partnership model. The operator has not yet been selected but is expected to be finalised by December.