PMO fast-tracks public-private partnership in inland water transport
28 Jan 2012
National Thermal Power Corporation, Inland Waterways Authority of India and a private developer have signed the country's first public-private partnership (PPP) model in inland water transport, a move that could boost the development of inland waterways in the country.
The tripartite agreement was signed at a meeting of the inter-ministerial coordination committee headed by principal secretary to the prime minister.
A per the agreement, NTPC will get competitive rates for transportation of coal while the private sector investor has committed investment of about Rs650 crore. The agreement covers cal supplies to the Farakka Power Project.
NTPC will provide long term cargo commitment for 3 million metric tonnes of coal for Barh power project once all its five units are operational by 2016-17.
Besides NTPC, the PPP project will be extended to other public sector entities such as Food Corporation of India, ONGC, Container Corporation (Concor), etc.
Under the PPP agreement, the execution of coal handling facility at Jogighopa and rail connectivity will be taken up under the non-lapsable central pool of resources (NLCPR) scheme.