Inland Waterways Current Affairs
India and Nepal have agreed to boost cooperation in connectivity sector as they decided to develop inland waterways for cargo movement within Protocol to Treaty of Transit between India and Nepal. It was decided during delegation-level talks between Prime Minister Narendra Modi and his Nepalese counterpart K P Sharma Oli.
Both countries recognised untapped potential of inland waterways to contribute towards overall economic development of the region. They took cognisance of their geographies and held that development of inland waterways in both countries for movement of cargo, within framework of trade and transit arrangements, will provide additional access to sea for landlocked Nepal.
This development of inland waterways will enable cost-effective and efficient movement of cargo. It will have enormous impact on the growth of business and economy of Nepal as it will provide additional connectivity to it. Both countries will formulate and mutually agree upon requisite procedures and modalities for including inland waterways as additional means of transport the Protocol to Treaty of Transit between India and Nepal.
Cochin Shipyard Limited (CSL) has inked Memorandum of Understanding (MoU) with Russian firm United Shipbuilding Corporation (USC) to develop specialized vessels for Inland and Coastal shipping.
Both firms will collaborate and engage in Design, Development and Execution of contemporary, state-of-Art vessels for Inland and Coastal Waterways. It will mainly include development of High-Speed Vessels, Passenger Vessels, River-Sea Cargo Vessels, Dredgers and other watercrafts for inland waterways and coastal shipping.
Significance of MoU
- It will give a push to Government’s Make-in-India programme.
- It will augment capacity to develop eco-friendly and economic transportation along India’s inland waterways and coastal shipping routes under Sagarmala Project.
- It will cater demand for different kinds of specialized vessels in the near and medium term for water based transport infrastructure.
Cochin Shipyard Limited (CSL)
CSL has recently incorporated as a Joint Venture (JV) Company called HCSL (Hooghly Cochin Shipyard Limited) at Kolkata, West Bengal. It will augment its capacity by setting up exclusive facility for construction and repair of vessels for inland and coastal waterways.
United Shipbuilding Corporation (USC)
USC is the largest shipbuilding holding in Russia that incorporates about 40 enterprises including shipyards, with more than 300 years of experience. It has played key role in the growth of inland waterways in Russia.