The Inland Waterways Authority of India (IWAI) has officially handed over the operations and maintenance of the Haldia Multi-Modal Terminal (MMT) in West Bengal to IRC Natural Resources Private Limited, advancing the government’s efforts to bolster inland waterway infrastructure through public-private partnerships (PPP).
The handover, announced by the Ministry of Ports, Shipping and Waterways, aligns with the Jal Marg Vikas Project (JMVP) aimed at developing National Waterway-1 (NW-1), the Ganga-Bhagirathi-Hooghly river system spanning 1,390 km across Uttar Pradesh, Bihar, Jharkhand, and West Bengal.
Constructed by IWAI with support from the World Bank, the Haldia MMT boasts an annual capacity of 3.08 million metric tonnes (MMTPA) and was inaugurated by Prime Minister Narendra Modi on January 13, 2023. The terminal, built on 61 acres of land leased from the Syama Prasad Mookerjee Port Trust (formerly Kolkata Port Trust), features modern facilities including a jetty, conveyor systems, and storage areas. It has been notified as a Customs Port for export-import (EXIM) cargo, facilitating international trade.
Strategically positioned near Haldia, the terminal connects to National Highway 41 and is set for rail integration, enhancing multimodal logistics. This setup is expected to streamline cargo transport, offering a greener, more cost-effective alternative to road and rail, particularly for shipments to India’s North Eastern states and Bangladesh.
To ensure efficient and sustained operation of the terminal, IWAI adopted a Public-Private Partnership (PPP) model. Selected via an open bidding process, IRC Natural Resources secured the bid with a royalty offer of ₹105.03 per metric tonne of cargo handled, payable to IWAI. Under the 15-year concession agreement (10 years initial, extendable by 5), the company will operate the terminal on an Equip, Operate, and Transfer (EOT) basis.
IRC Natural Resources, a Kolkata-based subsidiary of the IRC Group established in 2002, specializes in mineral trading, contract mining, warehousing, and logistics services. With over 100 employees and led by CEO Sudip Bose, the firm has expanded from trading into diversified operations, making it well-suited for managing the terminal’s activities.
This development is part of broader JMVP initiatives, which include fairway maintenance, construction of additional multimodal terminals like those at Varanasi and Sahibganj, navigational locks, and over 60 community jetties. Officials anticipate a significant uptick in inland water transport volumes, promoting sustainable logistics and reducing congestion on traditional routes.
The handover underscores the government’s commitment to the PM GatiShakti National Master Plan, positioning Haldia MMT as a key gateway for efficient, eco-friendly cargo movement in Eastern India.
