IWAI, IOC Pact on Fuel Needs for Waterways

Inland Waterways Authority of India (IWAI) and Indian Oil Corporation Limited (IOCL) signed a memorandum of understanding (MoU) on fuel needs for national waterways and to develop infrastructure for fuels for Waterways.

The MoU will provide for an understanding over general modalities of mutual co-operation leading to addressing futuristic demand of any form of energy for Inland Waterways and associated services.

A press release said that both will jointly develop infrastructure for meeting fuel, lubricating oil, LPG and natural gas requirements of national waterways.

The MoU also covers development of infrastructure for receipt, storage, dispensing and supply of fuels, lubricating oils, Liquefied Petroleum Gas (LPG) (for domestic & commercial use), Natural Gas (NG) and any other related fuel and gas.

In addition to this the MoU will also cover infrastructure development for setting up Consumer Pump (for supplying fuels to vehicles, locomotives, machinery & equipments etc.) and Retail Outlets (for fuel & gas) at Terminals/ Multimodal terminals. This will further lead to development of business activities along the 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. These studies will be based on the traffic potential, proximity to the local industries and waterways and its connectivity to rail heads.