IWAI, IOCL sign deal for supply of fuel & gas along national waterways

IWAI will also provide land to IOCL on a long-term lease basis for developing facilities at existing terminals. 

Published: 28th February 2019 05:21 AM  |   Last Updated: 28th February 2019 08:58 AM   |  A+A-

Inland waterway terminal being built at Varanasi on the Ganges river | Express

By Express News Service

In a move to address issues relating to the fuel requirement for national waterways, the Inland Waterways Authority of India (IWAI) and Indian Oil Corporation Ltd (IOCL) have inked a pact the government said Tuesday.

“IWAI and IOCL signed an MoU today for jointly developing infrastructure for fuels, lubricating oil, LPG, Natural Gas and any other related fuel and gas for meeting the requirement of National Waterways,” the Ministry of Shipping said.

The Memorandum of Understanding (MoU) will provide for an understanding over general modalities of mutual cooperation leading to addressing futuristic demands for any form of energy for Inland Waterways and associated services. The MoU also covers the development of infrastructure for receipt, storage, dispensing and supply of fuels, lubricating oils, Liquefied Petroleum Gas (LPG) (for domestic and commercial use), Natural Gas (NG) and any other related fuel and gas. In addition, the MoU will also cover infrastructure development for setting up consumer pumps (for supplying fuels to vehicles, locomotives, machinery and equipment etc) and retail outlets (for fuel and gas) at terminals, the statement said adding that this will further help business activities along national waterways.

“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,” the statement said. These studies will be based on the traffic potential, proximity to the local industries and waterways, and its connectivity to rail heads. IWAI will also provide land to IOCL on a long-term lease basis for developing facilities at existing terminals. 

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