Private sector investment in inland waterway transport is to be put on fast track. The initiative was taken by the Prime Minister after a meeting of the Inter-ministerial coordination committee.

Disclosing this, Principal Secretary to Dr. Manmohan Singh Pulok Chatterji said the initiative will harness huge potential of inland waterways in transporting bulk cargo like coal, food grains, fertilizers and fly ash at a cheaper rate. Both the Public and private companies will benefit. He said adequate use of waterways will also ease the burden on rail and road infrastructure.

Chatterji said that a tripartite agreement has also been signed between the public sector National Thermal Power Corporation, Inland Waterways Authority of India and a private developer to achieve this objective. The agreement relates to the Farakka Power Project.