India's Cochin Shipyard Limited (CSL) says it has signed a memorandum of understanding (MoU) with Russia's United Shipbuilding Corporation (USC) to collaborate on the design and development of "eco-friendly" transportation on Inland and Coastal Waterways.

The MoU is intended to prepare to cater to the demand for different kinds of vessels that is expected over the near and medium term.

"There is a huge potential in inland waterways, cruise tourism and RO-RO transportation in the country," said Shri Nitin Gadkari, the Minister of Shipping, Road Transport & Highways and Water Resources, River Development and Ganga Rejuvenation."

The MoU is intended to prepare to cater to the demand... over the near and medium term

"This collaboration would certainly bring in the much needed product as well as market innovation while harnessing newer technologies."

Under the agreement, CSL and USC will work together to high-speed vessels, river-sea cargo vessels, passenger vessels, dredgers, and other watercrafts for Indian Waterways and coastal shipping.

Last month, Ship & Bunker reported that an inland river cargo terminal to be built at Ghazipur in northern India will have a liquefied natural gas (LNG) bunkering facility.