IWAI and IPGPL ink MoU on Kaladan Multimodal Transit Transport Project
The Inland Waterways Authority of India (IWAI) and India Ports Global Private Limited (IPGPL) have signed a MoU for implementation of additional works on the Kaladan Multimodal Transit Transport Project (KMTTP) in Myanmar.
As part of the MoU, both signatory parties will be implementing three additional works on the KMTTP at the estimated to cost 476 crore rupees. These three projects are
- Container handling facilities at Paletwa and Sittwe.
- Operation and Maintenance (OM) of the completed works.
- Removing wrecks in Sittwe Port basin area.
Kaladan Multimodal Transit Transport Project (KMTTP)
- The KMTTP in Myanmar was conceptualized and is being administered by the Union Ministry of External Affairs (MEA).
- The ambitious project seeks to facilitate connectivity between the mainland India and the landlocked North Eastern States through maritime shipping, inland waterways and roads of Myanmar.
- The link between landlocked north eastern states and Myanmar will pave the way for (i) enhanced trade and commerce across the border. (ii) Enable cultural and social integration at the regional level.
- The MEA had appointed IWAI as the Project Development Consultant (PDC) for the implementation of the Port and Inland Water Transport (IWT) component of the KMTTP.
India Ports Global Private Limited (IPGPL)
The IPGPL has been established as a Joint Venture between Jawaharlal Nehru Port Trust and Kandla Port Trust for the purpose of development of ports overseas.
Month: Current Affairs - June, 2016