Ramnagar Port: PM Modi inaugurates India's first inland waterway corridor in Varanasi
Prime Minister Narendra Modi inaugurated the inter-model terminal, named Ramnagar, in Varanasi today. This project being one of the most ambitious projects of Mr. Modi, assures to give a robust boost to the economy.
The multi-modal terminals are being built as part of the central government's Jal Marg Vikas Project (JMVP) that aims to develop the stretch of the river Ganga between Varanasi and Haldia for navigation of large vessels weighing up to 1,500-2,000 tonnes.
The JMVP entails construction of three multi-modal terminals (Varanasi, Sahibganj and Haldia); two inter-modal terminals; five roll on-roll off terminal pairs; new navigation lock at Farakka; assured depth dredging; integrated vessel repair and and maintenance facility, differential global positioning system, river information system, river training and river conservancy works.
The terminal will help correct India's transport modal mix that imposes huge logistics cost on the economy. At 15 per cent of GDP, the logistics costs in India are about twice in the US, according to the shipping ministry.
Mr. Modi announced took to his Twitter yesterday to announce the date of inauguration of the port.
In a major boost to port-led development and harnessing our Jal Shakti for India's growth, an inland waterways terminal will be inaugurated in Varanasi tomorrow. pic.twitter.com/mGMuyPejUe— Narendra Modi (@narendramodi) November 11, 2018
The Varanasi multi-modal terminal has a capacity of 1.6 million tonne per annum and the work on this was started on June 2016.