IWAI engages KPMG for asset management and market development

Inland Waterways Authority of India ,IWAI, KPMG, World Bank,Jal Marg Vikas Project, JMVP

The Inland Waterways Authority of India (IWAI) has engaged KPMG, a reputed consultant, to study and devise a framework for operationalization and maintenance of the assets being built on NW-1 under the World Bank funded Jal Marg Vikas Project (JMVP) . This framework will include various institutional and operational models ranging from outsourcing to Special Purpose Vehicle (SPV) formulation with participating states and other authorities like Railways and Ports.

The Cabinet Committee on Economic Affairs had approved the implementation of the Jal Marg Vikas Project for capacity augmentation of navigation on the Haldia-Varanasi stretch of National Waterway-1 (Ganga) on 3rd January, 2018. The prominent assets being procured and built under JMVP will be ready by 2018-19. Optimum and sustainable utilization of assets so developed, would not be achievable without an asset management and operation framework.

Ganga river cruise is now one of the most sought-after travel experiences!

The consultant will also help in developing the business plan for market development on NW-1 for suitable cost recovery and tariff realization mechanism. In addition, it will assess to develop a plan for multimodal logistics park near the multimodal terminals being built under at Varanasi, Sahibganj and Haldia. These multimodal logistics parks will act as freight aggregation and disaggregation centres and promote a hub-and-spoke model of freight movement. Other broad scope of the study will include gathering market intelligence and reviewing cargo potential and cargo projections, developing a business and execution plan for marketing and commercial development and organize roadshows to generate investment awareness in PPP projects.

The JMVP is being implemented by the IWAI with technical assistance and investment support of the World Bank. The project is expected to boost the Inland Waterway Transport on NW-1, create/improve integration opportunities with road and rail transport, promote economic growth in the states of Uttar Pradesh, Bihar, Jharkhand & West Bengal and facilitate inland waterway connectivity between mainland India and North-Eastern States .

The development and operations of the NW-1 is estimated to create direct employment of 46,000 persons and indirect employment of 84,000 persons in Uttar Pradesh, Bihar, Jharkhand and West Bengal.

IWAI joins hands with World Bank for Jal Marg Vikas Project