Centre to invest additional Rs 1,000 cr in inland waterways projects in Assam, Northeast in 2026: Union Minister
Live Events
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
The Union Minister of Ports , Shipping & Waterways (MoPSW), Sarbananda Sonowal , reviewed the ongoing projects in Assam and the Northeast with the senior officials from the Ministry of Ports, Shipping & Waterways (MoPSW), theInland Waterways Authority of India (IWAI), Public Work Department (PWD), Indian Port Rail and Ropeway CorporationLimited (IPRCL) and Cochin Shipyard Limited (CSL).The minister underscored the need to complete the projects on time in line with the broader vision of Prime Minister Narendra Modi's Viksit Bharat 'Northeast is the topmost priority for PM Narendra Modi ji, our work in the region must sync with the vision of Viksit Bharat,' asserted Sarbananda Sonowal at the meeting.Sonowal said, 'As per the vision of Prime Minister Narendra Modi ji, we are developing robust waterway infrastructure in Assam and the Northeast with projects worth Rs 1,000 crore on the anvil, targeted for completion by 2026. In last two years, more than Rs 1,000 crore has been invested, with Rs 300 crore worth of projects already completed. Following my review of ongoing works in the region, we are on track to complete the remaining Rs 700 crore projects by the end of 2025. These efforts aim to boost cargo and passenger movement, improve last-mile connectivity, promote economic growth in the Northeast, and align with the broader vision of Atmanirbhar Bharat through sustainable and inclusive transport solutions.'The Union Government is actively developing key infrastructure projects along NW2 (Brahmaputra) and NW16 (Barak), including the construction of passenger vessels of various capacities, terminal facilities, and capacity-building initiatives.Sonowal also reviewed progress on the proposed Inland Water Transport (IWT) project at Doyang Lake, and assessed thepotential of Noune and Shilloi Lakes in Nagaland for water sports and tourism. Feasibility studies for IWT development on the Tiawng and Chhimtuipui rivers in Mizoram, as well as on Umiam Lake and the Ummgot River (NW106) in Meghalaya, were also reviewed.Sonowal said, 'Under Prime Minister Narendra Modi's visionary leadership, India is steadily moving towards the goal of Viksit Bharat. Assam and the Northeast are central to this progress, with inland waterways playing a vital role. Since 2014, the Modi government has revived this once neglected mode of transport, especially through the Brahmaputra (NW2) and Barak (NW16) rivers. Schemes like Jalvahak are encouraging businesses to adopt this economical, efficient, and eco friendly mode, reducing pressure on road and rail, and positioning Assam as a key driver in India's journey towards a self-reliant economy by 2047.'Reviewing multiple projects ranging from new infrastructure development for capacity enhancement on national waterways to scaling up with skill development initiatives for youth of Assam and the Northeast in the maritime sector, Union Minister Sarbananda Sonowal emphasised the urgency and the need for optimum utilisation of funds.Adding further Sonowal said, 'Under the visionary leadership of Prime Minister Narendra Modi ji, the government isbuilding new avenues for the youth of Assam and the Northeast to participate in India's maritime growth. Through institutions like the Maritime Skill Development Centre in Guwahati and the Centre of Excellence for Inland Water Transport in Dibrugarh, we are training a future-ready workforce equipped for inland and global maritime opportunities. These efforts are part of a larger push to skill, empower and employ our youth in logistics, cargo handling, vessel operations and more—especially as we expand infrastructure on NW2 and NW16. The Northeast is not just a gateway to Southeast Asia, but a key contributor to India's journey towards becoming a global maritime leader and achieving Viksit Bharat by 2047."To further enhance cruise tourism and cargo handling capacity across National Waterways 2 (Brahmaputra) and 16 (Barak), over Rs 1,500 crores have been earmarked for key projects scheduled to be completed by 2027-28. These include construction of modern jetties equipped with onshore facilities at Silghat, Bishwanath Ghat, Neamati Ghat, and Guijan. Additionally, a new building for the Regional Office of the Mercantile Marine Department (MSDC), along with a guest house and office space for ITAT, will be constructed at Fancy Bazar in Guwahati.Sonowal also noted progress on the proposed Water Metro services in Guwahati and Dhubri, with a Rs 315 crore investment and two electric catamarans being built by Cochin Shipyard Ltd. A Rs 100 crore cruise terminal in Guwahati and a Regional Centre of Excellence (RCoE) in Dibrugarh worth Rs 120 crore are also in the pipeline.Infrastructure along Brahmaputra (NW2) includes five riverine lighthouses at key locations, fairway development between Pandu and Bogibeel with Rs 150 crore, and procurement of two cutter suction dredgers. The IWAI is implementing Rs 1,010 crore worth of projects across NW2 and NW16, including terminals at Bogibeel and Jogighopa, and a Rs 208 crore ship repair facility at Pandu.On Barak river (NW16), Sonowal reaffirmed that survey and dredging equipment, and floating terminals at Karimganj and Badarpur projects reflect the Modi Government's commitment to making the Northeast a hub of India's maritime future.To ensure consistent navigability along the Brahmaputra, the Dredging Corporation of India (DCI) has been entrusted with maintaining a minimum assured draft of 2.5 meters from the Bangladesh border to Pandu under NW-2 until 2026-27.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
29 minutes ago
- Economic Times
Torrent Pharma shares in focus after Rs 11,900 crore JB Chemicals acquisition
Shares of Torrent Pharmaceuticals are likely to be in the spotlight on Monday, June 30, after the company announced a major acquisition worth Rs 11,917 crore to acquire a controlling stake in J.B. Chemicals & Pharmaceuticals Ltd, another player in the pharmaceutical sector. ADVERTISEMENT In a board meeting held on June 29, Torrent Pharma approved a multi-step transaction to acquire a majority stake in JB Chemicals. The acquisition comprises the following: Share Purchase Agreement (SPA): Torrent will acquire 7.44 crore equity shares, representing 46.39% of JB Chemicals' fully diluted equity share capital, from its promoter, Tau Investment Holdings Pte Ltd, at Rs 1,600 per share, amounting to approximately Rs 11,917 crore, subject to shareholder and regulatory approvals. Potential Employee Acquisition: Torrent may further acquire up to 44.99 lakh equity shares (2.80%) from certain employees at a price not exceeding Rs 1,600 per share, through employee stock Offer: Torrent has also proposed an open offer to public shareholders to acquire up to 4.17 crore shares (26.00%) of the expanded capital at Rs 1,639.18 per share, in accordance with SEBI's Takeover Torrent will gain promoter status and a controlling interest in JB Chemicals, positioning it to expand its product offerings and leverage synergies between the two firms. ADVERTISEMENT JB Chemicals, incorporated in 1976, is a publicly listed company with a consolidated turnover of Rs 3,918 crore and a net worth of Rs 3,433 crore as of March 31, 2025. The company has consistently maintained strong financial performance over the last three proposed acquisition is subject to approvals from the Competition Commission of India (CCI), shareholders, and other statutory bodies. Torrent Pharma anticipates completing the deal within six months. ADVERTISEMENT On Friday, shares of Torrent Pharmaceuticals closed 3.7% higher at Rs 3,344.40 on BSE. Also read: Nifty ready to scale new highs on bullish mood: Analysts (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
30 minutes ago
- Economic Times
Japan's 'death-tainted' homes gain appeal as property prices soar
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The house that property consultant and ghost investigator Kazutoshi Kodama regularly surveys has a grim history: seven years ago, an elderly woman hanged herself in the bathroom and last year her son died alone, his body undiscovered for roughly 10 says he has stayed in the house - located in a quiet residential area in Chiba near Tokyo - from 10 p.m. to 6 a.m. nearly 20 times, monitoring with four video cameras, a thermal camera, an electromagnetic field meter, an air pressure gauge, a thermometer and an IC recorder. He takes notes of the readings every he is satisfied there are no paranormal phenomena such as unexplained electromagnetic disturbances, he will issue a certificate deeming the property free of Japan, homes where murders or suicides have occurred are classified as "jiko bukken" or "misfortunate properties" that may provoke psychological distress for new owners or tenants. So are homes with "socially isolated" deaths - the most common type of misfortunate property where bodies are not found for some time and sufficient decay has set in to warrant special cleaning services or even the replacement of floors and thinking around misfortunate properties has been shaped by Japan's ancient Shinto religion which holds that when a person dies with regrets, their spirit lingers on earth, often at the site of their death, bearing grudges or overwhelmed by grief."Finding renters used to be virtually impossible," said Kodama, who founded his company, Kachimode, three years ago to offer what he calls ghost investigation services for prospective buyers and tenants."But with rising real estate prices, people have begun considering misfortunate properties as an option."Japan's property prices have rocketed on a surge in construction material and labour costs as well as an influx of overseas investors, attracted by a weak yen and the relative cheapness of local real average price for a second-hand 70-square-meter condominium in Tokyo's 23 wards, for example, jumped by more than a third in May from a year earlier to 100.9 million yen ($697,000), according to real estate research firm Tokyo OLDER, LONELIER SOCIETYJapan's rapidly ageing population has led to more socially isolated deaths . The national policy agency's first-ever report on the issue said there were nearly 21,900 cases last year where the death was not discovered for eight or more trend is such that the elderly can find it difficult to rent as owners worry their properties may one day become to mitigate this problem, the central government in 2021 issued guidelines recommending that three years after such a death, homes can shed their misfortunate property labels, potentially making it easier to find owners and agents still need to make disclosures about the property's history to all prospective buyers and to renters if they guidelines have spurred interest in misfortunate properties. Although Kodama may be unique in offering ghost investigative services, other real estate brokers are also seeking to capitalise on this emerging say that some younger people have become more open to living in misfortunate properties while both domestic and overseas investors - among them many Chinese - are attracted by potential high yields."Investors don't care (about the property's history) because they won't live there," said Akira Ookuma, founder of broker Happy Planning, adding that some hike rents after three also note that whereas the site of a murder may have to be sold for 80% below regular market prices or even fail to sell at all, for other misfortunate properties, the discount can be a relatively small 20%.MarksLife, which offers services for misfortunate properties such as ceremonies for lost souls performed by a Buddhist monk, says the properties it handles have an average investment return of 8.4%.By contrast, a studio apartment in central Tokyo has an expected average return of 3.55%, according to a CBRE misfortunate properties are only going to rise in number, real estate brokers aged 65 or above living alone currently account for 14% of all Japanese households but in 20 years' time, they will form a fifth, the National Institute of Population and Social Security Research has yet to sign off on the Chiba property - one he now rents with plans to sublet - as ghost-free. But he says he's done more than 70 investigations and only a fraction have revealed phenomena such as electromagnetic some prospective buyers, his certificate might be enough. For others, though, any misfortunate property is going to be a bridge too far."Even with discounts, I'm going to stay away ... It's not just the potential for ghosts; I'm just creeped out by the unusual and unfortunate histories," said Mari Shimamura, a 24-year-old office worker.
Time of India
39 minutes ago
- Time of India
Reliance Power bids for global tenders to build 1,500 MW gas plant
Anil Ambani 's Reliance Power Ltd is planning to set up a 1,500-MW gas-based power project overseas and is actively participating in several international tenders for its development, according to sources. Sources said, Reliance Power has submitted competitive bids for gas-based power projects in Kuwait, UAE, and Malaysia as part of its selective global expansion strategy. The company has recently secured two mega power projects in Bhutan - a 500-MW solar project and a 770-MW hydropower project. Based on the outcome of the ongoing international bids, Reliance Power plans to relocate two 750 MW modules of world-class equipment currently in its possession in India. The proposed project is expected to create significant value in Reliance Power's balance sheet, as the company aims to realise up to Rs 2,000 crore through the monetisation of these assets. When contacted, a Reliance Power spokesperson confirmed the company's participation in global tenders. Originally, the company had imported three modules of 750 MW world class equipment from General Electric, USA, for a gas-based combined cycle power project, out of which one module was exported to Bangladesh for an LNG based power project in partnership with Japan's JERA. Now, Reliance Power intends to deploy the remaining two modules for a similar project at an overseas location. The demand for gas-based power - widely regarded as a clean energy source - is significantly high in countries such as Kuwait, the UAE, and Malaysia. However, global suppliers like GE typically require 3 to 5 years to deliver equipment for gas or LNG-based power plants. In contrast, Reliance Power has 1,500 MW of equipment readily available, enabling it to execute such projects in the shortest possible timeframe. Reliance Power is actively focusing on renewable and clean energy. The company has a strong development pipeline, including 2.5 GWp of utility-scale solar projects and more than 2.5 GWh of Battery Energy Storage Systems (BESS). This positions Reliance Power as the largest private sector player in the integrated solar + BESS segment in India. Reliance Power has also entered into a joint venture with the Bhutan Government's Druk Holding & Investments (DHI) for the development of a 500 -MW solar project and a 770-MW hydropower project in Bhutan. This marks the largest foreign direct investment by an Indian private company in Bhutan's renewable energy sector.
