New Delhi: Inland Waterways Authority of India (IWAI) and Indian Oil Corporation Limited (IOCL) signed a memorandum of understanding (MoU) on Tuesday to jointly develop infrastructure for meeting fuel, lubricating oil, LPG and natural gas requirements of national waterways.
The MoU will provide for an understanding over general modalities of mutual cooperation leading to addressing future demand of any form of energy for inland waterways and associated services.
IWAI and IOCL have agreed to conduct techno-economic feasibility studies for preparation of detailed land requirement, storage facilities and other supporting infrastructure with details of the cost. These studies will be based on the traffic potential, proximity to the local industries and waterways and its connectivity to rail heads.
A total of 106 new national waterways have been declared in addition to existing five national waterways. Their development is being taken up in a phased manner, according to an official statement.
