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Govt looking for funding for Rs 60,000 crore river linking

Govt looking for funding for Rs 60,000 crore river linking

Karaikal: The Union Government was looking for funding from financial institutions for its Rs 60,000 crore project to link rivers Godavari and Cauvery, Union Water Resources Minister Nitin Gadkari said here on Friday.

The project, for which the plan has been prepared, will save about 1,200 tmc ft of Godavari water that drains into the sea and dramatically satisfy the irrigation needs of farmers in Tamil Nadu, he said.

"The plan for the project is ready and the government is looking for a loan of Rs 60,000 crore to executethe project," the minister said, addressing the sixth annual convocation at the National Institute of Technology at Karaikal, an enclave of the union territory of Puducherry.

The project envisages linking rivers Godavari-Krishna- Pennar-Cauvery.

The Minister had earlier said that the government would raise finances for the project either from the World Bank or the Asian Development Bank.

Gadkari, who gave away degrees to 104 B.Tech graduates, urged them to take up social impact projects solving various social challenges, making use of the locally available resources.

Citing the example of a project in Nagpur that converts sewage water, making it suitable for various purposes and has proved to be a highly profitable venture, he urged them to do research on alternative sources of energy. "Both wastes and knowledge could be converted into abundant wealth through proper vision and leadership,"he said.

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